Efficient use of multiple pipelined functional units and registers is very important for achieving high performance on modern processors. Instruction Level Parallelism (ILP) and register reuse (through register tiling) are two mechanisms for this, respectively. Program transformations that expose and exploit ILP and register reuse interact with each other in subtle ways. We study the combined problem of optimal ILP and register reuse. We consider the class of uniform dependence, fully permutable, rectangular loop nests. We develop an analytical model of the combined problem and formulate a mathematical optimization problem that chooses the parameters of the ILP-exposing transformation and register tiling so as to minimize the total execution time. We distinguish two cases: when loop permutation can and cannot expose a parallel loop. We show that the combined problem can be reduced to a single integer convex optimization problem for the former case, and to a set of integer convex optimization problems for the latter case, both of which can be solved to global optimality.