Efficient partitioning of hardware and software is essential for an optimized system design with a reduced development time. A reconfigurable Ultrasonic System-on-Chip Hardware (RUSH) platform has been developed to allow flexibility in system development for real-time ultrasonic signal processing applications via hardware-software (HW/SW) co-design. In this paper, we analyze how the various components within the RUSH system are split into hardware and software. Hence RUSH provides an industry standard development platform for both hardware and software designers.