A performance monitor configured to unify at least two different signal-quality estimates into a single performance metric such that a systematic error associated with the performance metric can be approximately constant or smaller than a specified fixed limit over a significantly wider range of data-link conditions than that of a conventional performance metric of similar utility. In an example embodiment, the performance metric can be based on a weighted sum of two different SNR estimates, obtained from an error count of the receiver's FEC decoder and from a constellation scatter plot generated using the receiver's symbol decoder, respectively. Different weights for the weighted sum may be selected for different data-link conditions, e.g., using SNR thresholding, analytical formulas, or pre-computed look-up tables. The performance metric may be supplied to a control entity and considered thereby as a factor in a possible decision to trigger protective switching and/or a transponder-mode change.