How much of a bottleneck is memory allocation/deallocation in typical real-world programs? Answers from any type of program where performance typically matters are welcome. Are decent implementations of malloc/free/garbage collection fast enough that it's only a bottleneck in a few corner cases, or would most performance-critical software benefit significantly from trying to keep the amount of memory allocations down or having a faster malloc/free/garbage collection implementation?
Note: I'm not talking about real-time stuff here. By performance-critical, I mean stuff where throughput matters, but latency doesn't necessarily.
Edit: Although I mention malloc, this question is not intended to be C/C++ specific.
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