To me, it seems somewhat improbable that the constants would be encoded in the instructions. They may share the same memory, but it seems more likely that the constants would all be kept in their own block. After all, since each instruction is probably 128 bits, and each constant is almost certainly the same amount (assuming one const = one 4-vector containing 32-bit floats), how could they be encoded together? I mean, I suppose it could be done, but it would be at a rather significant cost in space.