Several dynamic QoS routing techniques have been recently proposed for new IP networks based on label forwarding. However, no extensive performance evaluation and comparison is available in the literature. In this paper, after a short review of the major dynamic QoS routing schemes, we analyze and compare their performance referring to several networks scenarios. In order to set an absolute evaluation of the performance quality we have obtained the ideal performance of any routing scheme using a novel and flexible mathematical programming model that assumes the knowledge of arrival times and duration of the connections offered to the network. This model is based on an extension of the maximum multi-commodity flow problem. Being an integer linear programming model, its complexity is quite high and its evaluation is constrained to networks of limited size. To overcome the computational complexity we have defined an approximate model, based on the multi-class Erlang formula and the minim...