1. A method for optimizing performance counter utilization, comprising: determining performance counter events to be measured; determining Nyquist sampling frequency for each performance counter event; determining schedule for measuring performance counter events using the Nyquist sampling frequency for each performance counter event; conducting performance counter event measurements in accordance with the schedule for measuring performance counter events, whereby the measurements yield a set of sample data for each measured performance counter event; applying a signal reconstruction algorithm to the set of sample data for each measured performance counter event to reconstruct a respective essentially complete signal for each measured performance counter event; and using the essentially complete signal for each measured performance counter event to improve either a design or a utilization of either a microprocessor or an application to be executed on the microprocessor.