What is the most efficient tag binding method?

This depends on the context that the binding is being used in.

Yes. But in most cases it is probably negligible. If all you need is a property binding (e.g. you're not doing any work to it) then use a property binding. The real perfomance hits come when you use a property binding to get the value and then move into transforms to manipulate it when the same result can be achieved via another avenue.

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