1. A branch prediction mechanism for a processor performing speculative execution past branches, said branches having respectively associated taken and not-taken control flow paths, said branches having respectively associated instruction streams, said instruction streams corresponding to said taken control flow paths of said respectively associated branches, said branches being issued in original program order, said issued branches being respectively predicted to have either taken or not-taken behavior (direction), said taken or not-taken (taken/not-taken) behavior respectively corresponding to control flow behavior following said taken or not-taken control flow paths, a first dynamic group of said issued branches, said first dynamic group having unverified branch predictions, said first dynamic group being referred to as unresolved predicted branches, said unresolved predicted branches being equal in number to a first dynamic number, said first dynamic number being a number of said issued branches that have not been resolved, said first dynamic number being non-zero when at least one of said issued branches has an unverified branch prediction, each of said unresolved predicted branches having a unique relative age among said unresolved predicted branches, said unresolved predicted branches respectively becoming resolved branches in original program order as respective actual taken/not-taken behavior of each of said unresolved predicted branches is determined, each of said resolved branches having a unique relative age among said resolved branches, a second dynamic group of at least one of the youngest ones of said resolved branches being referred to as the most recently resolved branches, the youngest one of said most recently resolved branches being referred to as the most recently resolved branch, said speculative execution actively occurring from within a third dynamic group of at least one up to a predetermined plurality of said instruction streams, said third dynamic group being referred to as outstanding instruction streams, one of said instruction streams becoming one of said outstanding instruction streams upon an issue of the respectively associated branch of said one instruction stream, and said processor having branch-issued signals, said branch-issue signals dynamically identifying one of said outstanding instruction streams as being associated with a new issue of one of said branches, said branch prediction mechanism including: (A) a predetermined number of resolved branch direction history bits, the binary value of each of said resolved branch direction history bits representing the actual taken/not-taken behavior of one of said resolved branches, said resolved branch direction history bits being respectively maintained according to said original program order for said predetermined number of said most recently resolved branches; (B) valid speculative branch direction history bits equal in number to said first dynamic number of unresolved predicted branches, a binary value of each of said valid speculative branch direction history bits representing unverified predicted taken/not-taken behavior of one of said first dynamic number of unresolved predicted branches, said valid speculative branch direction history bits being respectively maintained according to said original program order for said first dynamic number of unresolved predicted branches; (C) a RAM that stores present state data for each of a plurality of branch history state machines, said RAM having a data output and a data input, said data input being for next state data, said branch history state machines having present-state-to-next-state transition behavior, said next state data becoming one of said present state data when said next state data is written into said RAM via said data input, said RAM being addressed by a combination of bits, said present state data at a location specified by said combination of bits being referred to as addressed present state data, said combination of bits comprising: (a) a first part corresponding to bits from a branch address, (b) a second part corresponding to said resolved branch direction history bits, and (c) a third part corresponding to at least one of said valid speculative branch direction history bits: (D) a plurality of present state storage respectively associated with each of said plurality of outstanding instruction streams, said plurality of present state storage being coupled to the addressed present state data at said RAM's data output and having capture enable inputs coupled to said branch-issued signals, an enabled one of said plurality of present state storage corresponding to said outstanding instruction stream associated with said new issue of one of said branches, said RAM's addressed present state data being captured and held by said enabled present state storage; and (E) next state transition mapping logic, said logic mapping said present-state-to-next-state transition behavior for said branch history state machines, said logic generating said next state data based in part on the present state storage associated with said most recently resolved branch.