diff --git a/.github/workflows/main.yml b/.github/workflows/main.yml
index 93522c43e1..f746db693a 100644
--- a/.github/workflows/main.yml
+++ b/.github/workflows/main.yml
@@ -207,7 +207,7 @@ jobs:
         submodules: true
     - uses: ./.github/actions/install-rust
       with:
-        toolchain: nightly-2019-08-15
+        toolchain: nightly-2020-01-06
     - uses: ./.github/actions/binary-compatible-builds
     - run: mkdir crates/misc/py/wheelhouse
       shell: bash
diff --git a/Cargo.lock b/Cargo.lock
index ca5cb311f9..ea00c661a5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2016,6 +2016,7 @@ dependencies = [
 name = "wasmtime-environ"
 version = "0.7.0"
 dependencies = [
+ "anyhow",
  "base64 0.11.0",
  "bincode",
  "cranelift-codegen",
@@ -2054,6 +2055,7 @@ dependencies = [
  "env_logger 0.7.1",
  "libfuzzer-sys",
  "log",
+ "wasmtime",
  "wasmtime-fuzzing",
  "wasmtime-jit",
 ]
@@ -2115,6 +2117,7 @@ dependencies = [
 name = "wasmtime-obj"
 version = "0.7.0"
 dependencies = [
+ "anyhow",
  "faerie",
  "more-asserts",
  "wasmtime-environ",
diff --git a/Cargo.toml b/Cargo.toml
index c7d6d111f2..09fa3ca5ae 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -60,7 +60,8 @@ members = [
 lightbeam = [
     "wasmtime-environ/lightbeam",
     "wasmtime-jit/lightbeam",
-    "wasmtime-wast/lightbeam"
+    "wasmtime-wast/lightbeam",
+    "wasmtime/lightbeam",
 ]
 wasi-c = ["wasmtime-wasi-c"]
 test_programs = ["test-programs/test_programs"]
diff --git a/build.rs b/build.rs
index 085ac3eea3..4eed5d4154 100644
--- a/build.rs
+++ b/build.rs
@@ -149,7 +149,7 @@ fn write_testsuite_tests(
     writeln!(out, "fn r#{}() -> anyhow::Result<()> {{", &testname)?;
     writeln!(
         out,
-        "crate::run_wast(r#\"{}\"#, crate::CompilationStrategy::{})",
+        "crate::run_wast(r#\"{}\"#, crate::Strategy::{})",
         path.display(),
         strategy
     )?;
diff --git a/crates/api/Cargo.toml b/crates/api/Cargo.toml
index 7f0ea581aa..3a71adc41e 100644
--- a/crates/api/Cargo.toml
+++ b/crates/api/Cargo.toml
@@ -36,3 +36,9 @@ wat = "1.0"
 
 [badges]
 maintenance = { status = "actively-developed" }
+
+[features]
+# Enables experimental support for the lightbeam codegen backend, an alternative
+# to cranelift. Requires Nightly Rust currently, and this is not enabled by
+# default.
+lightbeam = ["wasmtime-jit/lightbeam"]
diff --git a/crates/api/src/lib.rs b/crates/api/src/lib.rs
index 22cd1f8f84..e3a3fd8d1a 100644
--- a/crates/api/src/lib.rs
+++ b/crates/api/src/lib.rs
@@ -27,7 +27,7 @@ pub use crate::externals::*;
 pub use crate::instance::Instance;
 pub use crate::module::Module;
 pub use crate::r#ref::{AnyRef, HostInfo, HostRef};
-pub use crate::runtime::{Config, Engine, Store};
+pub use crate::runtime::{Config, Engine, Store, Strategy};
 pub use crate::trap::{FrameInfo, Trap, TrapInfo};
 pub use crate::types::*;
 pub use crate::values::*;
diff --git a/crates/api/src/runtime.rs b/crates/api/src/runtime.rs
index bef4313664..49c69e6d77 100644
--- a/crates/api/src/runtime.rs
+++ b/crates/api/src/runtime.rs
@@ -1,4 +1,5 @@
 use crate::context::Context;
+use anyhow::Result;
 use std::cell::RefCell;
 use std::collections::HashMap;
 use std::rc::Rc;
@@ -158,15 +159,29 @@ impl Config {
         self
     }
 
-    /// Configures the compilation `strategy` provided, indicating which
-    /// backend will be used for compiling WebAssembly to native code.
+    /// Configures which compilation strategy will be used for wasm modules.
     ///
-    /// Currently the primary strategies are with cranelift (an optimizing
-    /// compiler) or lightbeam (a fast single-pass JIT which produces code
-    /// quickly).
-    pub fn strategy(&mut self, strategy: CompilationStrategy) -> &mut Self {
-        self.strategy = strategy;
-        self
+    /// This method can be used to configure which compiler is used for wasm
+    /// modules, and for more documentation consult the [`Strategy`] enumeration
+    /// and its documentation.
+    ///
+    /// # Errors
+    ///
+    /// Some compilation strategies require compile-time options of `wasmtime`
+    /// itself to be set, but if they're not set and the strategy is specified
+    /// here then an error will be returned.
+    pub fn strategy(&mut self, strategy: Strategy) -> Result<&mut Self> {
+        self.strategy = match strategy {
+            Strategy::Auto => CompilationStrategy::Auto,
+            Strategy::Cranelift => CompilationStrategy::Cranelift,
+            #[cfg(feature = "lightbeam")]
+            Strategy::Lightbeam => CompilationStrategy::Lightbeam,
+            #[cfg(not(feature = "lightbeam"))]
+            Strategy::Lightbeam => {
+                anyhow::bail!("lightbeam compilation strategy wasn't enabled at compile time");
+            }
+        };
+        Ok(self)
     }
 }
 
@@ -176,6 +191,30 @@ impl Default for Config {
     }
 }
 
+/// Possible Compilation strategies for a wasm module.
+#[non_exhaustive]
+#[derive(Clone, Debug)]
+pub enum Strategy {
+    /// An indicator that the compilation strategy should be automatically
+    /// selected.
+    ///
+    /// This is generally what you want for most projects and indicates that the
+    /// `wasmtime` crate itself should make the decision about what the best
+    /// code generator for a wasm module is.
+    ///
+    /// Currently this always defaults to Cranelift, but the default value will
+    /// change over time.
+    Auto,
+
+    /// Currently the default backend, Cranelift aims to be a reasonably fast
+    /// code generator which generates high quality machine code.
+    Cranelift,
+
+    /// A single-pass code generator that is faster than Cranelift but doesn't
+    /// produce as high-quality code.
+    Lightbeam,
+}
+
 // Engine
 
 /// An `Engine` which is a global context for compilation and management of wasm
diff --git a/crates/environ/Cargo.toml b/crates/environ/Cargo.toml
index 396d88eb0e..78a6154f3f 100644
--- a/crates/environ/Cargo.toml
+++ b/crates/environ/Cargo.toml
@@ -12,6 +12,7 @@ readme = "README.md"
 edition = "2018"
 
 [dependencies]
+anyhow = "1.0"
 cranelift-codegen = { version = "0.52.0", features = ["enable-serde"] }
 cranelift-entity = { version = "0.52.0", features = ["enable-serde"] }
 cranelift-wasm = { version = "0.52.0", features = ["enable-serde"] }
diff --git a/crates/environ/src/cache/config.rs b/crates/environ/src/cache/config.rs
index d6a29ee4d4..73831aa7bf 100644
--- a/crates/environ/src/cache/config.rs
+++ b/crates/environ/src/cache/config.rs
@@ -1,6 +1,7 @@
 //! Module for configuring the cache system.
 
 use super::worker;
+use anyhow::{anyhow, bail, Context, Result};
 use directories::ProjectDirs;
 use lazy_static::lazy_static;
 use log::{debug, error, trace, warn};
@@ -137,32 +138,32 @@ pub fn init<P: AsRef<Path> + Debug>(
 
 /// Creates a new configuration file at specified path, or default path if None is passed.
 /// Fails if file already exists.
-pub fn create_new_config<P: AsRef<Path> + Debug>(
-    config_file: Option<P>,
-) -> Result<PathBuf, String> {
+pub fn create_new_config<P: AsRef<Path> + Debug>(config_file: Option<P>) -> Result<PathBuf> {
     trace!("Creating new config file, path: {:?}", config_file);
 
-    let config_file = config_file.as_ref().map_or_else(
-        || DEFAULT_CONFIG_PATH.as_ref().map(|p| p.as_ref()),
-        |p| Ok(p.as_ref()),
-    )?;
+    let config_file = config_file
+        .as_ref()
+        .map_or_else(
+            || DEFAULT_CONFIG_PATH.as_ref().map(|p| p.as_ref()),
+            |p| Ok(p.as_ref()),
+        )
+        .map_err(|s| anyhow!("{}", s))?;
 
     if config_file.exists() {
-        return Err(format!(
+        bail!(
             "Specified config file already exists! Path: {}",
             config_file.display()
-        ));
+        );
     }
 
     let parent_dir = config_file
         .parent()
-        .ok_or_else(|| format!("Invalid cache config path: {}", config_file.display()))?;
+        .ok_or_else(|| anyhow!("Invalid cache config path: {}", config_file.display()))?;
 
-    fs::create_dir_all(parent_dir).map_err(|err| {
+    fs::create_dir_all(parent_dir).with_context(|| {
         format!(
-            "Failed to create config directory, config path: {}, error: {}",
+            "Failed to create config directory, config path: {}",
             config_file.display(),
-            err
         )
     })?;
 
@@ -175,11 +176,10 @@ pub fn create_new_config<P: AsRef<Path> + Debug>(
 enabled = true
 ";
 
-    fs::write(&config_file, &content).map_err(|err| {
+    fs::write(&config_file, &content).with_context(|| {
         format!(
-            "Failed to flush config to the disk, path: {}, msg: {}",
+            "Failed to flush config to the disk, path: {}",
             config_file.display(),
-            err
         )
     })?;
 
diff --git a/crates/fuzzing/src/oracles.rs b/crates/fuzzing/src/oracles.rs
index 004f1ad906..45c6290332 100644
--- a/crates/fuzzing/src/oracles.rs
+++ b/crates/fuzzing/src/oracles.rs
@@ -32,14 +32,15 @@ fn host_isa() -> Box<dyn isa::TargetIsa> {
 /// Performs initial validation, and returns early if the Wasm is invalid.
 ///
 /// You can control which compiler is used via passing a `CompilationStrategy`.
-pub fn instantiate(wasm: &[u8], compilation_strategy: CompilationStrategy) {
+pub fn instantiate(wasm: &[u8], strategy: Strategy) {
     if wasmparser::validate(wasm, None).is_err() {
         return;
     }
 
     let mut config = Config::new();
-    config.strategy(compilation_strategy);
-
+    config
+        .strategy(strategy)
+        .expect("failed to enable lightbeam");
     let engine = Engine::new(&config);
     let store = HostRef::new(Store::new(&engine));
 
diff --git a/crates/fuzzing/tests/regressions.rs b/crates/fuzzing/tests/regressions.rs
index 069cd8ae0b..925720c0da 100644
--- a/crates/fuzzing/tests/regressions.rs
+++ b/crates/fuzzing/tests/regressions.rs
@@ -5,10 +5,11 @@
 //! use the Wasm binary by including it via
 //! `include_bytes!("./regressions/some-descriptive-name.wasm")`.
 
+use wasmtime::Strategy;
 use wasmtime_fuzzing::oracles;
 
 #[test]
 fn instantiate_empty_module() {
     let data = wat::parse_str(include_str!("./regressions/empty.wat")).unwrap();
-    oracles::instantiate(&data, wasmtime_jit::CompilationStrategy::Auto);
+    oracles::instantiate(&data, Strategy::Auto);
 }
diff --git a/crates/obj/Cargo.toml b/crates/obj/Cargo.toml
index c8ed4b1672..fabe65a65f 100644
--- a/crates/obj/Cargo.toml
+++ b/crates/obj/Cargo.toml
@@ -11,6 +11,7 @@ readme = "README.md"
 edition = "2018"
 
 [dependencies]
+anyhow = "1.0"
 wasmtime-environ = { path = "../environ" }
 faerie = "0.13.0"
 more-asserts = "0.2.1"
diff --git a/crates/obj/src/data_segment.rs b/crates/obj/src/data_segment.rs
index c4ce8862cd..4662544753 100644
--- a/crates/obj/src/data_segment.rs
+++ b/crates/obj/src/data_segment.rs
@@ -1,3 +1,4 @@
+use anyhow::Result;
 use faerie::{Artifact, Decl};
 use wasmtime_environ::DataInitializer;
 
@@ -6,10 +7,9 @@ pub fn declare_data_segment(
     obj: &mut Artifact,
     _data_initaliazer: &DataInitializer,
     index: usize,
-) -> Result<(), String> {
+) -> Result<()> {
     let name = format!("_memory_{}", index);
-    obj.declare(name, Decl::data())
-        .map_err(|err| format!("{}", err))?;
+    obj.declare(name, Decl::data())?;
     Ok(())
 }
 
@@ -18,9 +18,8 @@ pub fn emit_data_segment(
     obj: &mut Artifact,
     data_initaliazer: &DataInitializer,
     index: usize,
-) -> Result<(), String> {
+) -> Result<()> {
     let name = format!("_memory_{}", index);
-    obj.define(name, Vec::from(data_initaliazer.data))
-        .map_err(|err| format!("{}", err))?;
+    obj.define(name, Vec::from(data_initaliazer.data))?;
     Ok(())
 }
diff --git a/crates/obj/src/function.rs b/crates/obj/src/function.rs
index dc1832d75d..da0bfc3f26 100644
--- a/crates/obj/src/function.rs
+++ b/crates/obj/src/function.rs
@@ -1,3 +1,4 @@
+use anyhow::Result;
 use faerie::{Artifact, Decl, Link};
 use wasmtime_environ::entity::EntityRef;
 use wasmtime_environ::settings;
@@ -19,26 +20,23 @@ pub fn declare_functions(
     obj: &mut Artifact,
     module: &Module,
     relocations: &Relocations,
-) -> Result<(), String> {
+) -> Result<()> {
     for i in 0..module.imported_funcs.len() {
         let string_name = format!("_wasm_function_{}", i);
-        obj.declare(string_name, Decl::function_import())
-            .map_err(|err| format!("{}", err))?;
+        obj.declare(string_name, Decl::function_import())?;
     }
     for (_, function_relocs) in relocations.iter() {
         for r in function_relocs {
             let special_import_name = get_reloc_target_special_import_name(r.reloc_target);
             if let Some(special_import_name) = special_import_name {
-                obj.declare(special_import_name, Decl::function_import())
-                    .map_err(|err| format!("{}", err))?;
+                obj.declare(special_import_name, Decl::function_import())?;
             }
         }
     }
     for (i, _function_relocs) in relocations.iter().rev() {
         let func_index = module.func_index(i);
         let string_name = format!("_wasm_function_{}", func_index.index());
-        obj.declare(string_name, Decl::function().global())
-            .map_err(|err| format!("{}", err))?;
+        obj.declare(string_name, Decl::function().global())?;
     }
     Ok(())
 }
@@ -49,7 +47,7 @@ pub fn emit_functions(
     module: &Module,
     compilation: &Compilation,
     relocations: &Relocations,
-) -> Result<(), String> {
+) -> Result<()> {
     debug_assert!(
         module.start_func.is_none()
             || module.start_func.unwrap().index() >= module.imported_funcs.len(),
@@ -66,8 +64,7 @@ pub fn emit_functions(
         let func_index = module.func_index(i);
         let string_name = format!("_wasm_function_{}", func_index.index());
 
-        obj.define(string_name, body.clone())
-            .map_err(|err| format!("{}", err))?;
+        obj.define(string_name, body.clone())?;
     }
 
     for (i, function_relocs) in relocations.iter() {
@@ -82,8 +79,7 @@ pub fn emit_functions(
                         from: &string_name,
                         to: &target_name,
                         at: r.offset as u64,
-                    })
-                    .map_err(|err| format!("{}", err))?;
+                    })?;
                 }
                 RelocationTarget::Memory32Grow
                 | RelocationTarget::ImportedMemory32Grow
@@ -93,8 +89,7 @@ pub fn emit_functions(
                         from: &string_name,
                         to: get_reloc_target_special_import_name(r.reloc_target).expect("name"),
                         at: r.offset as u64,
-                    })
-                    .map_err(|err| format!("{}", err))?;
+                    })?;
                 }
                 RelocationTarget::JumpTable(_, _) => {
                     // ignore relocations for jump tables
diff --git a/crates/obj/src/module.rs b/crates/obj/src/module.rs
index aa32ab0d8d..0117681e61 100644
--- a/crates/obj/src/module.rs
+++ b/crates/obj/src/module.rs
@@ -2,6 +2,7 @@ use crate::context::layout_vmcontext;
 use crate::data_segment::{declare_data_segment, emit_data_segment};
 use crate::function::{declare_functions, emit_functions};
 use crate::table::{declare_table, emit_table};
+use anyhow::Result;
 use faerie::{Artifact, Decl, Link};
 use wasmtime_environ::isa::TargetFrontendConfig;
 use wasmtime_environ::{Compilation, DataInitializer, Module, Relocations};
@@ -10,18 +11,16 @@ fn emit_vmcontext_init(
     obj: &mut Artifact,
     module: &Module,
     target_config: &TargetFrontendConfig,
-) -> Result<(), String> {
+) -> Result<()> {
     let (data, table_relocs) = layout_vmcontext(module, target_config);
-    obj.declare_with("_vmcontext_init", Decl::data().global(), data.to_vec())
-        .map_err(|err| format!("{}", err))?;
+    obj.declare_with("_vmcontext_init", Decl::data().global(), data.to_vec())?;
     for reloc in table_relocs.iter() {
         let target_name = format!("_table_{}", reloc.index);
         obj.link(Link {
             from: "_vmcontext_init",
             to: &target_name,
             at: reloc.offset as u64,
-        })
-        .map_err(|err| format!("{}", err))?;
+        })?;
     }
     Ok(())
 }
@@ -35,7 +34,7 @@ pub fn emit_module(
     relocations: &Relocations,
     data_initializers: &[DataInitializer],
     target_config: &TargetFrontendConfig,
-) -> Result<(), String> {
+) -> Result<()> {
     declare_functions(obj, module, relocations)?;
 
     for (i, initializer) in data_initializers.iter().enumerate() {
diff --git a/crates/obj/src/table.rs b/crates/obj/src/table.rs
index 269e50927c..fe4b52c6a0 100644
--- a/crates/obj/src/table.rs
+++ b/crates/obj/src/table.rs
@@ -1,18 +1,17 @@
+use anyhow::Result;
 use faerie::{Artifact, Decl};
 
 /// Declares data segment symbol
-pub fn declare_table(obj: &mut Artifact, index: usize) -> Result<(), String> {
+pub fn declare_table(obj: &mut Artifact, index: usize) -> Result<()> {
     let name = format!("_table_{}", index);
-    obj.declare(name, Decl::data())
-        .map_err(|err| format!("{}", err))?;
+    obj.declare(name, Decl::data())?;
     Ok(())
 }
 
 /// Emit segment data and initialization location
-pub fn emit_table(obj: &mut Artifact, index: usize) -> Result<(), String> {
+pub fn emit_table(obj: &mut Artifact, index: usize) -> Result<()> {
     let name = format!("_table_{}", index);
     // FIXME: We need to initialize table using function symbols
-    obj.define(name, Vec::new())
-        .map_err(|err| format!("{}", err))?;
+    obj.define(name, Vec::new())?;
     Ok(())
 }
diff --git a/fuzz/Cargo.toml b/fuzz/Cargo.toml
index 7c0613627a..768cb84eca 100644
--- a/fuzz/Cargo.toml
+++ b/fuzz/Cargo.toml
@@ -14,6 +14,7 @@ env_logger = "0.7.1"
 log = "0.4.8"
 wasmtime-fuzzing = { path = "../crates/fuzzing", features = ["env_logger"] }
 wasmtime-jit = { path = "../crates/jit" }
+wasmtime = { path = "../crates/api" }
 libfuzzer-sys = { git = "https://github.com/rust-fuzz/libfuzzer-sys.git" }
 
 [[bin]]
diff --git a/fuzz/fuzz_targets/instantiate.rs b/fuzz/fuzz_targets/instantiate.rs
index 36fb104b87..0db62f1d3e 100644
--- a/fuzz/fuzz_targets/instantiate.rs
+++ b/fuzz/fuzz_targets/instantiate.rs
@@ -1,12 +1,9 @@
 #![no_main]
 
 use libfuzzer_sys::fuzz_target;
+use wasmtime::Strategy;
 use wasmtime_fuzzing::{oracles, with_log_wasm_test_case};
-use wasmtime_jit::CompilationStrategy;
 
 fuzz_target!(|data: &[u8]| {
-    with_log_wasm_test_case!(data, |data| oracles::instantiate(
-        data,
-        CompilationStrategy::Auto
-    ));
+    with_log_wasm_test_case!(data, |data| oracles::instantiate(data, Strategy::Auto,));
 });
diff --git a/fuzz/fuzz_targets/instantiate_translated.rs b/fuzz/fuzz_targets/instantiate_translated.rs
index 19e313adea..0a575e5b58 100644
--- a/fuzz/fuzz_targets/instantiate_translated.rs
+++ b/fuzz/fuzz_targets/instantiate_translated.rs
@@ -1,12 +1,12 @@
 #![no_main]
 
 use libfuzzer_sys::fuzz_target;
+use wasmtime::Strategy;
 use wasmtime_fuzzing::{generators, oracles, with_log_wasm_test_case};
-use wasmtime_jit::CompilationStrategy;
 
 fuzz_target!(|data: generators::WasmOptTtf| {
     with_log_wasm_test_case!(&data.wasm, |wasm| oracles::instantiate(
         wasm,
-        CompilationStrategy::Auto
+        Strategy::Auto,
     ));
 });
diff --git a/src/bin/wasm2obj.rs b/src/bin/wasm2obj.rs
index 5e297b13d1..5be8084c0b 100644
--- a/src/bin/wasm2obj.rs
+++ b/src/bin/wasm2obj.rs
@@ -26,15 +26,15 @@
     )
 )]
 
+use anyhow::{anyhow, bail, Result};
 use docopt::Docopt;
 use faerie::Artifact;
 use serde::Deserialize;
-use std::error::Error;
-use std::fmt::format;
 use std::path::{Path, PathBuf};
 use std::str::FromStr;
 use std::{process, str};
 use target_lexicon::Triple;
+use wasmtime::Strategy;
 use wasmtime_cli::pick_compilation_strategy;
 use wasmtime_debug::{emit_debugsections, read_debuginfo};
 use wasmtime_environ::entity::EntityRef;
@@ -47,7 +47,7 @@ use wasmtime_environ::{
     cache_create_new_config, cache_init, Compiler, Cranelift, ModuleEnvironment, ModuleVmctxInfo,
     Tunables, VMOffsets,
 };
-use wasmtime_jit::{native, CompilationStrategy};
+use wasmtime_jit::native;
 use wasmtime_obj::emit_module;
 
 const USAGE: &str = "
@@ -176,18 +176,14 @@ fn handle_module(
     enable_optimize: bool,
     cranelift: bool,
     lightbeam: bool,
-) -> Result<(), String> {
-    let data = match wat::parse_file(path) {
-        Ok(data) => data,
-        Err(err) => {
-            return Err(String::from(err.description()));
-        }
-    };
+) -> Result<()> {
+    let data = wat::parse_file(path)?;
 
     let isa_builder = match *target {
         Some(ref target) => {
-            let target = Triple::from_str(&target).map_err(|_| "could not parse --target")?;
-            native::lookup(target).map_err(|err| format!("{:?}", err))?
+            let target =
+                Triple::from_str(&target).map_err(|_| anyhow!("could not parse --target"))?;
+            native::lookup(target)?
         }
         None => native::builder(),
     };
@@ -213,7 +209,7 @@ fn handle_module(
     let tunables = Tunables::default();
 
     // Decide how to compile.
-    let strategy = pick_compilation_strategy(cranelift, lightbeam);
+    let strategy = pick_compilation_strategy(cranelift, lightbeam)?;
 
     let (
         module,
@@ -224,10 +220,7 @@ fn handle_module(
     ) = {
         let environ = ModuleEnvironment::new(isa.frontend_config(), tunables);
 
-        let translation = environ
-            .translate(&data)
-            .map_err(|error| error.to_string())?;
-
+        let translation = environ.translate(&data)?;
         (
             translation.module,
             translation.module_translation.unwrap(),
@@ -240,25 +233,24 @@ fn handle_module(
     // TODO: use the traps information
     let (compilation, relocations, address_transform, value_ranges, stack_slots, _traps) =
         match strategy {
-            CompilationStrategy::Auto | CompilationStrategy::Cranelift => {
-                Cranelift::compile_module(
-                    &module,
-                    &module_translation,
-                    lazy_function_body_inputs,
-                    &*isa,
-                    generate_debug_info,
-                )
-                .map_err(|e| e.to_string())?
-            }
-            #[cfg(feature = "lightbeam")]
-            CompilationStrategy::Lightbeam => Lightbeam::compile_module(
+            Strategy::Auto | Strategy::Cranelift => Cranelift::compile_module(
                 &module,
                 &module_translation,
                 lazy_function_body_inputs,
                 &*isa,
                 generate_debug_info,
-            )
-            .map_err(|e| e.to_string())?,
+            )?,
+            #[cfg(feature = "lightbeam")]
+            Strategy::Lightbeam => Lightbeam::compile_module(
+                &module,
+                &module_translation,
+                lazy_function_body_inputs,
+                &*isa,
+                generate_debug_info,
+            )?,
+            #[cfg(not(feature = "lightbeam"))]
+            Strategy::Lightbeam => bail!("lightbeam support not enabled"),
+            other => bail!("unsupported compilation strategy {:?}", other),
         };
 
     let module_vmctx_info = {
@@ -288,14 +280,12 @@ fn handle_module(
             &debug_data,
             &address_transform,
             &value_ranges,
-        )
-        .map_err(|e| e.to_string())?;
+        )?
     }
 
     // FIXME: Make the format a parameter.
-    let file =
-        ::std::fs::File::create(Path::new(output)).map_err(|x| format(format_args!("{}", x)))?;
-    obj.write(file).map_err(|e| e.to_string())?;
+    let file = ::std::fs::File::create(Path::new(output))?;
+    obj.write(file)?;
 
     Ok(())
 }
diff --git a/src/bin/wasmtime.rs b/src/bin/wasmtime.rs
index a02fa0d803..46f828927a 100644
--- a/src/bin/wasmtime.rs
+++ b/src/bin/wasmtime.rs
@@ -257,11 +257,11 @@ fn main() -> Result<()> {
     }
 
     // Decide how to compile.
-    let strategy = pick_compilation_strategy(args.flag_cranelift, args.flag_lightbeam);
-
-    config
-        .flags(settings::Flags::new(flag_builder))
-        .strategy(strategy);
+    config.strategy(pick_compilation_strategy(
+        args.flag_cranelift,
+        args.flag_lightbeam,
+    )?)?;
+    config.flags(settings::Flags::new(flag_builder));
     let engine = Engine::new(&config);
     let store = HostRef::new(Store::new(&engine));
 
diff --git a/src/bin/wast.rs b/src/bin/wast.rs
index 3edbf6194b..ca23b41c29 100644
--- a/src/bin/wast.rs
+++ b/src/bin/wast.rs
@@ -22,8 +22,8 @@
     )
 )]
 
+use anyhow::{Context, Result};
 use docopt::Docopt;
-use pretty_env_logger;
 use serde::Deserialize;
 use std::path::Path;
 use std::process;
@@ -75,7 +75,7 @@ struct Args {
     flag_cranelift: bool,
 }
 
-fn main() {
+fn main() -> Result<()> {
     let version = env!("CARGO_PKG_VERSION");
     let args: Args = Docopt::new(USAGE)
         .and_then(|d| {
@@ -95,19 +95,12 @@ fn main() {
     };
 
     if args.flag_create_cache_config {
-        match cache_create_new_config(args.flag_cache_config) {
-            Ok(path) => {
-                println!(
-                    "Successfully created new configuation file at {}",
-                    path.display()
-                );
-                return;
-            }
-            Err(err) => {
-                eprintln!("Error: {}", err);
-                process::exit(1);
-            }
-        }
+        let path = cache_create_new_config(args.flag_cache_config)?;
+        println!(
+            "Successfully created new configuation file at {}",
+            path.display()
+        );
+        return Ok(());
     }
 
     let errors = cache_init(
@@ -148,22 +141,20 @@ fn main() {
     }
 
     // Decide how to compile.
-    let strategy = pick_compilation_strategy(args.flag_cranelift, args.flag_lightbeam);
-    cfg.strategy(strategy)
-        .flags(settings::Flags::new(flag_builder));
+    cfg.strategy(pick_compilation_strategy(
+        args.flag_cranelift,
+        args.flag_lightbeam,
+    )?)?
+    .flags(settings::Flags::new(flag_builder));
     let store = HostRef::new(Store::new(&Engine::new(&cfg)));
     let mut wast_context = WastContext::new(store);
 
     wast_context
         .register_spectest()
-        .expect("error instantiating \"spectest\"");
+        .context("error instantiating \"spectest\"")?;
 
     for filename in &args.arg_file {
-        wast_context
-            .run_file(Path::new(&filename))
-            .unwrap_or_else(|e| {
-                eprintln!("{:?}", e);
-                process::exit(1)
-            });
+        wast_context.run_file(Path::new(&filename))?;
     }
+    Ok(())
 }
diff --git a/src/lib.rs b/src/lib.rs
index 4680b12c92..aa64ce353e 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -1,16 +1,13 @@
-use wasmtime_jit::CompilationStrategy;
+use anyhow::{bail, Result};
+use wasmtime::Strategy;
 
-pub fn pick_compilation_strategy(cranelift: bool, lightbeam: bool) -> CompilationStrategy {
-    // Decide how to compile.
-    match (lightbeam, cranelift) {
-        #[cfg(feature = "lightbeam")]
-        (true, false) => CompilationStrategy::Lightbeam,
-        #[cfg(not(feature = "lightbeam"))]
-        (true, false) => panic!("--lightbeam given, but Lightbeam support is not enabled"),
-        (false, true) => CompilationStrategy::Cranelift,
-        (false, false) => CompilationStrategy::Auto,
-        (true, true) => panic!("Can't enable --cranelift and --lightbeam at the same time"),
-    }
+pub fn pick_compilation_strategy(cranelift: bool, lightbeam: bool) -> Result<Strategy> {
+    Ok(match (lightbeam, cranelift) {
+        (true, false) => Strategy::Lightbeam,
+        (false, true) => Strategy::Cranelift,
+        (false, false) => Strategy::Auto,
+        (true, true) => bail!("Can't enable --cranelift and --lightbeam at the same time"),
+    })
 }
 
 pub fn init_file_per_thread_logger(prefix: &'static str) {
diff --git a/tests/wast_testsuites.rs b/tests/wast_testsuites.rs
index a2e1d420c8..0edf30c1f6 100644
--- a/tests/wast_testsuites.rs
+++ b/tests/wast_testsuites.rs
@@ -1,8 +1,7 @@
 use std::path::Path;
-use wasmtime::{Config, Engine, HostRef, Store};
+use wasmtime::{Config, Engine, HostRef, Store, Strategy};
 use wasmtime_environ::settings;
 use wasmtime_environ::settings::Configurable;
-use wasmtime_jit::CompilationStrategy;
 use wasmtime_wast::WastContext;
 
 include!(concat!(env!("OUT_DIR"), "/wast_testsuite_tests.rs"));
@@ -10,7 +9,7 @@ include!(concat!(env!("OUT_DIR"), "/wast_testsuite_tests.rs"));
 // Each of the tests included from `wast_testsuite_tests` will call this
 // function which actually executes the `wast` test suite given the `strategy`
 // to compile it.
-fn run_wast(wast: &str, strategy: CompilationStrategy) -> anyhow::Result<()> {
+fn run_wast(wast: &str, strategy: Strategy) -> anyhow::Result<()> {
     let wast = Path::new(wast);
 
     let mut flag_builder = settings::builder();
@@ -21,7 +20,7 @@ fn run_wast(wast: &str, strategy: CompilationStrategy) -> anyhow::Result<()> {
     let mut cfg = Config::new();
     cfg.wasm_simd(wast.iter().any(|s| s == "simd"))
         .wasm_multi_value(wast.iter().any(|s| s == "multi-value"))
-        .strategy(strategy)
+        .strategy(strategy)?
         .flags(settings::Flags::new(flag_builder));
     let store = HostRef::new(Store::new(&Engine::new(&cfg)));
     let mut wast_context = WastContext::new(store);