Turbocharging and downsizing (TRBDS) a gasoline direct injection (GDI) engine can reduce fuel consumption but with increased drivability challenges compared to larger displacement engines. This tradeoff between efficiency and drivability is influenced by the throttle-wastegate control strategy. A more severe tradeoff between efficiency and drivability is shown with the introduction of Low-Pressure Exhaust Gas Recirculation (LP-EGR). This paper investigates and quantifies these trade-offs by designing and implementing in a one-dimensional (1D) engine simulation two prototypical throttle-wastegate strategies that bound the achievable engine performance with respect to efficiency and torque response. Specifically, a closed-wastegate (WGC) strategy for the fastest achievable response and a throttle-wastegate strategy that minimizes engine backp-pressure (MBWG) for the best fuel efficiency, are evaluated and compared based on closed loop response. The simulation of an aggressive tip-in (the driver’s request for torque increase) shows that the wastegate strategy can negotiate a 0.8% efficiency gain at the expense of 160 ms slower torque response both with and without LP-EGR. The LP-EGR strategy, however offers a substantial 5% efficiency improvement followed by an undesirable 1 second increase in torque time response, clarifying the opportunities and challenges associated with LP-EGR.