In this article, we describe an alternative circuit design methodology when considering trade-offs between accuracy, performance, and silicon area. We compare two different approaches that could trade accuracy for performance. One is the traditional approach where the precision used in the datapath is limited to meet a target latency. The other is a proposed new approach which simply allows the datapath to operate without timing closure. We demonstrate analytically and experimentally that on average our approach obtains either smaller errors or equivalent faster operating frequencies in comparison to the traditional approach. This is because the worst case caused by timing violations only happens rarely, while precision loss results in errors to most data. We also show that for basic arithmetic operations such as addition, applying our approach to the simple building block of ripple carry adders can achieve better accuracy or performance than using faster adder designs to achieve similar latency.