1. A method for customizing a test instrument, comprising: utilizing a computer to perform: storing first code for execution by a processor of the test instrument; storing second code for implementation on a programmable hardware element of the test instrument; receiving user input customizing the second code prior to said storing the second code, wherein the user input specifies adaptive behavior for the test instrument based on information from a system under test (SUT); generating and storing a hardware description for the programmable hardware element based on the user input; wherein, after implementation of the hardware description on the programmable hardware element and during testing of the SUT coupled to the test instrument, the test instrument is configured to determine information received from the SUT during testing of the SUT; wherein operation of the test instrument is automatically modified based on the adaptive behavior specified by the user input and the information received from the SUT during testing of the SUT, wherein modification of the operation comprises one or more of: configuration of the test instrument; or configuration of the SUT.