http://en.wikipedia.org/wiki/Explicitly_parallel_instruction...
" The EPIC architecture also includes a grab-bag of architectural concepts to increase ILP:
Predicated execution is used to decrease the occurrence of branches and to increase the speculative execution of instructions. In this feature, branch conditions are converted to predicate registers which are used to kill results of executed instructions from the side of the branch which is not taken. . . . Multi-way branch instructions improve branch prediction by combining many alternative branches into one bundle. "
The problem is that you rapidly run out of execution resources (what if there are more branches to follow, for example) and you will burn lots of energy executing things that don't happen (not to mention speculatively loading things that aren't needed, etc). I remember seeing some papers on the limits of ILP and I think this was one of the 'extreme' ideas (speculation down multiple paths).