Comment 7 for bug 724020

Ah, I see you got confused by my usage of "maximum specified level".

I meant that both

  (lambda (x)
    (declare (optimize (speed 1) (speed 3) (safety 0) (safety 2) (speed 2) (safety 1)))
    ...)

  (lambda (x)
    (declare (optimize (speed 3) (safety 1)))
    (declare (optimize (speed 0) (safety 2)))
    ...)

should signal a STYLE-WARNING, and be compiled as if

  (lambda (x)
    (declare (optimize (speed 3) (safety 2)))
    ...)

had been used instead, though as far as I'm concerned only making sure that happens for SAFETY really matters -- nothing else has required semantics.