Casey Muratori said it best: there are 3 philosophies of optimisation. You're talking about the first: actual optimisation where you measure and decide what to tackle. It's rarely used, and with good reason.
The second philosophy however is very different: it's non-pessimisation. That is, avoid having the CPU do useless work all the time. That one should be applied in a fairly systematic basis, and it's not. To apply it in practice you need to have an idea of how much time your algorithm requires. Count how many bytes are processed, how many operations are made… this should give a nice upper bound on performance. If you're within an order of magnitude of this theoretical maximum, you're probably good. Otherwise you probably missed something.
The third philosophy is fake optimisation: heuristics misapplied out of context. This one should never be used, but is more frequent than we care to admit.
