A novel search principle for optimal feature subset selection using the branch & bound method is introduced. Thanks to a simple mechanism for predicting criterion values, a considerable amount of time can be saved by avoiding many slow criterion evaluations. We propose two implementations of the proposed prediction mechanism that are suitable for use with nonrecursive and recursive criterion forms, respectively. Both algorithms find the optimum usually several times faster than any other known branch & bound algorithm. As the algorithm computational efficiency is crucial, due to the exponential nature of the search problem, we also investigate other factors that affect the search performance of all branch & bound algorithms. Using a set of synthetic criteria, we show that the speed of the branch & bound algorithms strongly depends on the diversity among features, feature stability with respect to different subsets, and criterion function dependence on feature set size. We identify the scenarios where the search is accelerated the most dramatically (finish in linear time), as well as the worst conditions. We verify our conclusions experimentally on three real data sets using traditional probabilistic distance criteria.