In this paper, we generalize existing fundamental limitations on the accuracy of the estimation of dynamic models. In addition, we study the large sample statistical behavior of different estimation-based controller design strategies. In particular, fundamental limitations on the closed-loop performance using a controller obtained by Virtual Reference Feedback Tuning (VRFT) are studied. We also extend our results to more general estimation-based control design strategies. We present numerical examples to show the application of our results. (C) 2011 Elsevier Ltd. All rights reserved.