This paper presents a novel way of evaluating architecture of embedded custom DSPs which helps designers optimizing the datapath configuration and the instruction set. Given a datapath structure, it evaluates the performance in terms of the estimated number of steps to execute the target program on the datapath. A concept of "parallel constraint" is newly introduced, which enables evaluation of the impact of instruction format design on the performance without explicity specifying the instruction format. The number of execution steps is estimated by a combination of static analysis and dynamic analysis. It enables fast and precise estimation of actual performance in the early design stage. We have developed an architecture evaluation system based on the presented method and applied it to some actual design of signal processors. We demonstrate the accuracy of estimation and the usefulness of the method through its applications.