I have studied outputted Java bytecode in the past (using an app called FrontEnd). It basically doesn't do any optimization, except for inlining constants (static finals) and precalculating fixed expressions (like 2*5 and "ab"+"cd"). This is part of why is is so easy to disassemble (using an app called JAD)
I also discovered some interesting points to optimize your java code with. It helped me improve speeds of inner-loops by 2.5 times.
A method has 5 quick-access variables. When these variables are called, they're faster than all other variables (probably because of stack maintainance). The parameters of a method are also counted to these 5. So if you have code inside for loop which is executed like a million times, allocate those variables at the start of the method, and have no parameters.
Local variables are also faster than fields, so if you use fields inside inner loops, cache these variables by assigning them to a local variable at the start of the method. Cache the reference not the contents. (like: int[] px = this.pixels;)