When I faced a performance issue in Dolphin, I usually used valgrind in combination with callgrind to find the bottleneck (valgrind --tool=callgrind dolphin -nofork). The output can be visualized by KCacheGrind in a nice way:
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One big benefit of Valgrind is that it gives 100 % coverage of user-space code. But as usual there are rarely benefits without drawbacks: As valgrind is a kind of virtual machine, that uses just-in-time compiling, the application runs around 5 times slower. This can get a problem if timers are involved in the application. Also performance issues in combination with threads are tricky to identify, because valgrind does not give a non-obtrusive performance overview of the overall system.
So I started to get familiar with OProfile during the last week. OProfile is a non-obtrusive system-wide profiler, which means that the application runs (nearly) at the same speed as without profiler. OProfile gives an overview about the workload of all processes in the system. This is very useful for Dolphin, as the overall performance of Dolphin depends also on e. g. Nepomuk and asynchronous operations to e. g. get file previews. It is possible to convert the OProfile output to a readable KCachegrind file by 'opreport -gdf | op2calltree'.
Dependent on the usecase, both tools are really helpful. The next thing on my TODO-list is to get more familiar to locate I/O bound bottlenecks: When reading the number of sub directories for 20000 directories, the bottleneck is definitely not on the CPU side (in this case neither Valgrind nor OProfile can detect the bottleneck). All in all I hope that I find the time during the KDE SC 4.5 cycle to improve the Dolphin performance in some areas with the help of these tools.