In this paper, we take a careful look at speedup factors, utilization bounds, and capacity augmentation bounds. These three metrics have been widely adopted in real-time scheduling research as the de facto standard theoretical tools for assessing scheduling algorithms and schedulability tests. Despite that, it is not always clear how researchers and designers should interpret or use these metrics. In studying this area, we found a number of surprising results, and related to them, ways in which the metrics may be misinterpreted or misunderstood. In this paper, we provide a perspective on the use of these metrics, guiding researchers on their meaning and interpretation, and helping to avoid pitfalls in their use. Finally, we propose and dem...