Where someone else http://rtsisyk.github.io/luafun/intro.html attempts to generate LuaJIT bytecode directly and tracing JIT doesn't speedup their code because LuaJIT isn't designed to speedup arbitrary bytecode but bytecode generated by the LuaJIT compiler.
There was still a more specific post that I am unable to locate where Mike specifically warned against targeting LuaJIT bytecode. I'd probably just post a message on the luajit list if you want clarification.
The closest thing is this http://www.reddit.com/r/programming/comments/1r2s82/lua_fun_...
Where someone else http://rtsisyk.github.io/luafun/intro.html attempts to generate LuaJIT bytecode directly and tracing JIT doesn't speedup their code because LuaJIT isn't designed to speedup arbitrary bytecode but bytecode generated by the LuaJIT compiler.
There was still a more specific post that I am unable to locate where Mike specifically warned against targeting LuaJIT bytecode. I'd probably just post a message on the luajit list if you want clarification.