In order to maintain a memory system's performance levels to its end-of-life, latency threshold level(s) are specified and associated with different memory system operating parameters. In one embodiment, the memory system monitors and gathers performance statistics in real time, and in accordance with specific memory transfer sizes. A current latency level can be dynamically calculated using the performance statistics and compared to previously established latency threshold levels. If the current latency level is greater than or equal to a specific latency threshold level, the memory system's configuration setting can be adjusted according to the operating parameters associated with the latency threshold level to offset the increased latency.