Nonlinearity mitigation using digital signal processing has been shown to increase the achievable data rates of optical fiber transmission links. One especially effective technique is digital back propagation (DBP), an algorithm capable of simultaneously compensating for linear and nonlinear channel distortions. The most significant barrier to implementing this technique, however, is its high computational complexity. In recent years, there have been several proposed alternatives to DBP with reduced computational complexity, although such techniques have not demonstrated performance benefits commensurate with the complexity of implementation. In order to fully characterize the computational requirements of DBP, there is a need to model the algorithm behavior when constrained to the logic used in a digital coherent receiver. Such a model allows for the analysis of any signal recovery algorithm in terms of true hardware complexity which, crucially, includes the bit-depth of the multiplication operation. With a limited bit depth, there is quantization noise, introduced with each arithmetic operation, and it can no longer be assumed that the conventional DBP algorithm will outperform its low complexity alternatives. In this work, DBP and a single nonlinear step DBP implementation, the \textit{Enhanced Split Step Fourier} method (ESSFM), were compared with linear equalization using a generic software model of fixed point hardware. The requirements of bit depth and fast Fourier transform (FFT) size are discussed to examine the optimal operating regimes for these two schemes of digital nonlinearity compensation. For a 1000 km transmission system, it was found that (assuming an optimized FFT size), in terms of SNR, the ESSFM algorithm outperformed the conventional DBP for all hardware resolutions up to 13 bits.