Earlier quoted context omitted.
Java JITs are considerably more advanced than this. It's expensive to put in all the additional control flow edges to model exceptions, but once done, control and data flow analyses just work, as well as loop optimizations, code motion, inlining, register allocation--all of it "just works" (TM). Then you have to spit out a metric crapton of metadata to allow searching for the correct handler at runtime, but that's th…
Regarding putting in all the additional control flow edges: more edges mean fewer optimizations. That's not zero cost.
Most of the lost optimization opportunities are second-order costs, not first-order costs. Java JITs make up for the extra flow edges by focusing more on global optimizations rather than local (e.g. GVN vs LVN, global code motion, global flow-sensitive load/store elimination), etc. Generally a possible exception edge splitting a basic block doesn't hurt because the non-exceptional control flow will still benefit from flow-sensitive optimizations (i.e. it has only one predecessor anyway).
We're splitting hairs anyway. Like I said, Java JITs are significantly more advanced at optimizing exception-heavy code. I'd be really surprised if you saw anything more than a 1% increase in performance, actually, no, scratch that. I doubt you can even reliably any speedup distinguishable from noise from just disabling all support for exceptions in most Java code, unless you are talking about metadata. Top-tier JITs really are that good.