Latency insensitive communication offers many potential benefits for FPGA designs, including easier timing closure by enabling automatic pipelining, and easier interfacing with embedded NoCs. However, it is important to understand the costs and trade-offs associated with any new design style. This paper presents optimized implementations of latency insensitive communication building blocks, quantifies their overheads in terms of area and frequency, and provides guidance to designers on how to generate high-speed and areaefficient latency insensitive systems.