The CARMA First-light Correlator--Revised Performance Estimates A.J. Beasley, D.W. Hawkins, K. Rauch, D. Woody CARMA Memo #3 describes the expected scientific performance of the COBRA-based CARMA First-light (CFL) correlator. Early in 2003, detailed correlator field-programmable gate array (FPGA) simulations were completed by Kevin Rauch (CAMRMA Memo #9). Analysis of the COBRA correlator board's ability to process 10 baselines per card (COBRA boards currently only handle 5), and details of how information is stored and routed through the correlator, have led to a reassessment of the expected spectral-line performance of the correlator. The revised parameters are described.