--- tools/build/v1/gcc-tools.jam
+++ tools/build/v1/gcc-tools.jam
@@ -60,7 +60,7 @@
 flags gcc CFLAGS <debug-symbols>on : -g ;
 flags gcc LINKFLAGS <debug-symbols>on : -g ;
 flags gcc CFLAGS <optimization>off : -O0 ;
-flags gcc CFLAGS <optimization>speed : -O3 ;
+flags gcc CFLAGS <optimization>speed : -O2 ;
 
 # Other optimizations we might want for GCC
 # -fforce-mem -fomit-frame-pointer