diff --git a/crates/rune/src/runtime/bytes.rs b/crates/rune/src/runtime/bytes.rs
index fe21308bf..c8322d905 100644
--- a/crates/rune/src/runtime/bytes.rs
+++ b/crates/rune/src/runtime/bytes.rs
@@ -13,7 +13,7 @@ use crate::alloc::prelude::*;
 use crate::alloc::{self, Box, Vec};
 use crate::Any;
 
-use super::{IntoOutput, RawAnyGuard, Ref, UnsafeToRef, Value, VmResult};
+use super::{IntoOutput, RawAnyGuard, Ref, RuntimeError, UnsafeToRef, Value, VmResult};
 
 /// A vector of bytes.
 #[derive(Any, Default, PartialEq, Eq, PartialOrd, Ord, Hash)]
@@ -452,10 +452,8 @@ impl TryFrom<&[u8]> for Value {
 }
 
 impl IntoOutput for &[u8] {
-    type Output = Bytes;
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        VmResult::Ok(vm_try!(Bytes::try_from(self)))
+    fn into_output(self) -> Result<Value, RuntimeError> {
+        Ok(Value::try_from(self)?)
     }
 }
diff --git a/crates/rune/src/runtime/inst.rs b/crates/rune/src/runtime/inst.rs
index 8eda20ea2..6a75ec6b9 100644
--- a/crates/rune/src/runtime/inst.rs
+++ b/crates/rune/src/runtime/inst.rs
@@ -1,6 +1,5 @@
 use core::cmp::Ordering;
 use core::fmt;
-use core::num::NonZeroUsize;
 
 use musli::{Decode, Encode};
 use rune_macros::InstDisplay;
@@ -8,9 +7,10 @@ use serde::{Deserialize, Serialize};
 
 use crate as rune;
 use crate::alloc::prelude::*;
-use crate::runtime::{Call, FormatSpec, Memory, Type, Value, VmError, VmResult};
 use crate::Hash;
 
+use super::{Call, FormatSpec, Memory, RuntimeError, Type, Value};
+
 /// Pre-canned panic reasons.
 ///
 /// To formulate a custom reason, use
@@ -1123,19 +1123,6 @@ impl Inst {
     }
 }
 
-/// The calling convention of a function.
-#[derive(
-    Debug, TryClone, Clone, Copy, PartialEq, Eq, Hash, Serialize, Deserialize, Encode, Decode,
-)]
-#[try_clone(copy)]
-#[non_exhaustive]
-enum OutputKind {
-    /// Push the produced value onto the stack.
-    Keep(NonZeroUsize),
-    /// Discard the produced value, leaving the stack unchanged.
-    Discard,
-}
-
 /// What to do with the output of an instruction.
 #[derive(TryClone, Clone, Copy, PartialEq, Eq, Hash, Serialize, Deserialize, Encode, Decode)]
 #[try_clone(copy)]
@@ -1143,36 +1130,30 @@ enum OutputKind {
 #[musli(transparent)]
 #[serde(transparent)]
 pub struct Output {
-    kind: OutputKind,
+    offset: usize,
 }
 
 impl Output {
     /// Construct a keep output kind.
     #[inline]
-    pub(crate) fn keep(index: usize) -> Self {
-        let Some(index) = NonZeroUsize::new(index ^ usize::MAX) else {
-            panic!("Index {index} is out of bounds")
-        };
-
-        Self {
-            kind: OutputKind::Keep(index),
-        }
+    pub(crate) fn keep(offset: usize) -> Self {
+        assert_ne!(offset, usize::MAX, "Address is invalid");
+        Self { offset }
     }
 
     /// Construct a discard output kind.
     #[inline]
     pub(crate) fn discard() -> Self {
-        Self {
-            kind: OutputKind::Discard,
-        }
+        Self { offset: usize::MAX }
     }
 
     /// Check if the output is a keep.
-    #[inline]
+    #[inline(always)]
     pub(crate) fn as_addr(&self) -> Option<InstAddress> {
-        match self.kind {
-            OutputKind::Keep(index) => Some(InstAddress::new(index.get() ^ usize::MAX)),
-            OutputKind::Discard => None,
+        if self.offset == usize::MAX {
+            None
+        } else {
+            Some(InstAddress::new(self.offset))
         }
     }
 
@@ -1200,25 +1181,26 @@ impl Output {
     ///     out.store(stack, number);
     ///     VmResult::Ok(())
     /// }
-    #[inline]
-    pub fn store<O>(self, stack: &mut dyn Memory, o: O) -> VmResult<()>
+    #[inline(always)]
+    pub fn store<M, O>(self, stack: &mut M, o: O) -> Result<(), RuntimeError>
     where
-        O: IntoOutput<Output: TryInto<Value, Error: Into<VmError>>>,
+        M: ?Sized + Memory,
+        O: IntoOutput,
     {
         if let Some(addr) = self.as_addr() {
-            let value = vm_try!(o.into_output());
-            *vm_try!(stack.at_mut(addr)) = vm_try!(value.try_into().map_err(Into::into));
+            *stack.at_mut(addr)? = o.into_output()?;
         }
 
-        VmResult::Ok(())
+        Ok(())
     }
 }
 
 impl fmt::Display for Output {
     fn fmt(&self, f: &mut fmt::Formatter<'_>) -> fmt::Result {
-        match self.kind {
-            OutputKind::Keep(index) => write!(f, "keep({})", index.get() ^ usize::MAX),
-            OutputKind::Discard => write!(f, "discard"),
+        if self.offset == usize::MAX {
+            write!(f, "discard")
+        } else {
+            write!(f, "keep({})", self.offset)
         }
     }
 }
@@ -1232,11 +1214,8 @@ impl fmt::Debug for Output {
 
 /// Trait used to coerce values into outputs.
 pub trait IntoOutput {
-    #[doc(hidden)]
-    type Output;
-
     /// Coerce the current value into an output.
-    fn into_output(self) -> VmResult<Self::Output>;
+    fn into_output(self) -> Result<Value, RuntimeError>;
 }
 
 impl<F, O> IntoOutput for F
@@ -1244,41 +1223,27 @@ where
     F: FnOnce() -> O,
     O: IntoOutput,
 {
-    type Output = O::Output;
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
+    fn into_output(self) -> Result<Value, RuntimeError> {
         self().into_output()
     }
 }
 
 impl<T, E> IntoOutput for Result<T, E>
 where
-    VmError: From<E>,
+    T: IntoOutput,
+    RuntimeError: From<E>,
 {
-    type Output = T;
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        VmResult::Ok(vm_try!(self))
-    }
-}
-
-impl<T> IntoOutput for VmResult<T> {
-    type Output = T;
-
-    #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        self
+    fn into_output(self) -> Result<Value, RuntimeError> {
+        self?.into_output()
     }
 }
 
 impl IntoOutput for Value {
-    type Output = Value;
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        VmResult::Ok(self)
+    fn into_output(self) -> Result<Value, RuntimeError> {
+        Ok(self)
     }
 }
 
@@ -1840,10 +1805,8 @@ where
 }
 
 impl IntoOutput for &str {
-    type Output = String;
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        VmResult::Ok(vm_try!(String::try_from(self)))
+    fn into_output(self) -> Result<Value, RuntimeError> {
+        Ok(Value::try_from(self)?)
     }
 }
diff --git a/crates/rune/src/runtime/stack.rs b/crates/rune/src/runtime/stack.rs
index 3675267c0..f2d0faa34 100644
--- a/crates/rune/src/runtime/stack.rs
+++ b/crates/rune/src/runtime/stack.rs
@@ -1,4 +1,5 @@
 use core::array;
+use core::convert::Infallible;
 use core::fmt;
 use core::mem::replace;
 use core::slice;
@@ -16,6 +17,13 @@ pub struct StackError {
     addr: InstAddress,
 }
 
+impl From<Infallible> for StackError {
+    #[inline]
+    fn from(value: Infallible) -> Self {
+        match value {}
+    }
+}
+
 impl fmt::Display for StackError {
     #[inline]
     fn fmt(&self, f: &mut fmt::Formatter<'_>) -> fmt::Result {
diff --git a/crates/rune/src/runtime/value.rs b/crates/rune/src/runtime/value.rs
index af1065457..886a6daef 100644
--- a/crates/rune/src/runtime/value.rs
+++ b/crates/rune/src/runtime/value.rs
@@ -561,16 +561,16 @@ impl Value {
     }
 
     /// Construct an empty.
-    pub fn empty_struct(rtti: Arc<Rtti>) -> VmResult<Self> {
-        VmResult::Ok(Value::from(vm_try!(Dynamic::new(rtti, []))))
+    pub fn empty_struct(rtti: Arc<Rtti>) -> alloc::Result<Self> {
+        Ok(Value::from(Dynamic::new(rtti, [])?))
     }
 
     /// Construct a typed tuple.
     pub fn tuple_struct(
         rtti: Arc<Rtti>,
         data: impl IntoIterator<IntoIter: ExactSizeIterator, Item = Value>,
-    ) -> VmResult<Self> {
-        VmResult::Ok(Value::from(vm_try!(Dynamic::new(rtti, data))))
+    ) -> alloc::Result<Self> {
+        Ok(Value::from(Dynamic::new(rtti, data)?))
     }
 
     /// Drop the interior value.
@@ -1559,11 +1559,9 @@ impl From<()> for Value {
 }
 
 impl IntoOutput for () {
-    type Output = ();
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        VmResult::Ok(())
+    fn into_output(self) -> Result<Value, RuntimeError> {
+        Ok(Value::from(()))
     }
 }
 
@@ -1586,11 +1584,9 @@ impl From<AnyObj> for Value {
 }
 
 impl IntoOutput for Inline {
-    type Output = Inline;
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        VmResult::Ok(self)
+    fn into_output(self) -> Result<Value, RuntimeError> {
+        Ok(Value::from(self))
     }
 }
 
diff --git a/crates/rune/src/runtime/value/dynamic.rs b/crates/rune/src/runtime/value/dynamic.rs
index 9a99dcd2d..40c7aff3f 100644
--- a/crates/rune/src/runtime/value/dynamic.rs
+++ b/crates/rune/src/runtime/value/dynamic.rs
@@ -12,7 +12,7 @@ use crate::alloc::fmt::TryWrite;
 use crate::hash::Hash;
 use crate::runtime::{
     Access, AccessError, BorrowMut, BorrowRef, Formatter, IntoOutput, ProtocolCaller, Rtti,
-    RttiKind, Snapshot, TypeInfo, Value, VmResult,
+    RttiKind, RuntimeError, Snapshot, TypeInfo, Value, VmResult,
 };
 
 #[derive(Debug)]
@@ -471,10 +471,8 @@ fn debug_struct(
 }
 
 impl IntoOutput for Dynamic<Arc<Rtti>, Value> {
-    type Output = Dynamic<Arc<Rtti>, Value>;
-
     #[inline]
-    fn into_output(self) -> VmResult<Self::Output> {
-        VmResult::Ok(self)
+    fn into_output(self) -> Result<Value, RuntimeError> {
+        Ok(Value::from(self))
     }
 }
diff --git a/crates/rune/src/runtime/value/macros.rs b/crates/rune/src/runtime/value/macros.rs
index 34c0d245a..28e263712 100644
--- a/crates/rune/src/runtime/value/macros.rs
+++ b/crates/rune/src/runtime/value/macros.rs
@@ -68,11 +68,9 @@ macro_rules! any_from {
             }
 
             impl IntoOutput for $ty {
-                type Output = $ty;
-
                 #[inline]
-                fn into_output(self) -> VmResult<Self::Output> {
-                    VmResult::Ok(self)
+                fn into_output(self) -> Result<$crate::runtime::Value, $crate::runtime::RuntimeError> {
+                    Ok(Value::new(self)?)
                 }
             }
         )*
@@ -97,11 +95,9 @@ macro_rules! inline_from {
             }
 
             impl $crate::runtime::IntoOutput for $ty {
-                type Output = $ty;
-
                 #[inline]
-                fn into_output(self) -> $crate::runtime::VmResult<Self::Output> {
-                    $crate::runtime::VmResult::Ok(self)
+                fn into_output(self) -> Result<$crate::runtime::Value, $crate::runtime::RuntimeError> {
+                    Ok($crate::runtime::Value::from(self))
                 }
             }
 
diff --git a/crates/rune/src/runtime/vm.rs b/crates/rune/src/runtime/vm.rs
index 1cbd1e715..5ababc828 100644
--- a/crates/rune/src/runtime/vm.rs
+++ b/crates/rune/src/runtime/vm.rs
@@ -2056,10 +2056,7 @@ impl Vm {
             .map(take)
             .try_collect::<alloc::Vec<Value>>());
 
-        vm_try!(out.store(&mut self.stack, || VmResult::Ok(vm_try!(
-            OwnedTuple::try_from(tuple)
-        ))));
-
+        vm_try!(out.store(&mut self.stack, || OwnedTuple::try_from(tuple)));
         VmResult::Ok(())
     }
 
@@ -2073,10 +2070,7 @@ impl Vm {
             vm_try!(tuple.try_push(value));
         }
 
-        vm_try!(out.store(&mut self.stack, || VmResult::Ok(vm_try!(
-            OwnedTuple::try_from(tuple)
-        ))));
-
+        vm_try!(out.store(&mut self.stack, || OwnedTuple::try_from(tuple)));
         VmResult::Ok(())
     }
 
@@ -2867,10 +2861,8 @@ impl Vm {
             .lookup_rtti(hash)
             .ok_or(VmErrorKind::MissingRtti { hash }));
 
-        vm_try!(out.store(&mut self.stack, || Dynamic::<_, Value>::new(
-            rtti.clone(),
-            []
-        )));
+        let value = vm_try!(Dynamic::<_, Value>::new(rtti.clone(), []));
+        vm_try!(out.store(&mut self.stack, value));
         VmResult::Ok(())
     }
 
diff --git a/crates/rune/src/runtime/vm_error.rs b/crates/rune/src/runtime/vm_error.rs
index b37672a01..14727e951 100644
--- a/crates/rune/src/runtime/vm_error.rs
+++ b/crates/rune/src/runtime/vm_error.rs
@@ -593,6 +593,15 @@ impl From<AccessError> for RuntimeError {
     }
 }
 
+impl From<StackError> for RuntimeError {
+    #[inline]
+    fn from(error: StackError) -> Self {
+        Self {
+            error: VmErrorKind::from(error),
+        }
+    }
+}
+
 impl From<AccessErrorKind> for RuntimeError {
     #[inline]
     fn from(error: AccessErrorKind) -> Self {