[c++] Why does changing 0.1f to 0 slow down performance by 10x?

Why does this bit of code,

const float x[16] = {  1.1,   1.2,   1.3,     1.4,   1.5,   1.6,   1.7,   1.8,
                       1.9,   2.0,   2.1,     2.2,   2.3,   2.4,   2.5,   2.6};
const float z[16] = {1.123, 1.234, 1.345, 156.467, 1.578, 1.689, 1.790, 1.812,
                     1.923, 2.034, 2.145,   2.256, 2.367, 2.478, 2.589, 2.690};
float y[16];
for (int i = 0; i < 16; i++)
{
    y[i] = x[i];
}

for (int j = 0; j < 9000000; j++)
{
    for (int i = 0; i < 16; i++)
    {
        y[i] *= x[i];
        y[i] /= z[i];
        y[i] = y[i] + 0.1f; // <--
        y[i] = y[i] - 0.1f; // <--
    }
}

run more than 10 times faster than the following bit (identical except where noted)?

const float x[16] = {  1.1,   1.2,   1.3,     1.4,   1.5,   1.6,   1.7,   1.8,
                       1.9,   2.0,   2.1,     2.2,   2.3,   2.4,   2.5,   2.6};
const float z[16] = {1.123, 1.234, 1.345, 156.467, 1.578, 1.689, 1.790, 1.812,
                     1.923, 2.034, 2.145,   2.256, 2.367, 2.478, 2.589, 2.690};
float y[16];
for (int i = 0; i < 16; i++)
{
    y[i] = x[i];
}

for (int j = 0; j < 9000000; j++)
{
    for (int i = 0; i < 16; i++)
    {
        y[i] *= x[i];
        y[i] /= z[i];
        y[i] = y[i] + 0; // <--
        y[i] = y[i] - 0; // <--
    }
}

when compiling with Visual Studio 2010 SP1. The optimization level was -02 with sse2 enabled. I haven't tested with other compilers.