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Re:What’s Up With All These Changes in Rails? by wycats on Tuesday June 14, 2011 @04:40PM (#2654659)
Benchmarks on ActiveRecord before the work Aaron did on Arel (which was dropped in in 3.0.x due to the magnitude of the perfect issue/improvement) are not totally relevant today.

There are still some issues, but there is still low-hanging-fruit as well, such as Aaron's work to add prepare statement caching to Rails 3.1

Re:What’s Up With All These Changes in Rails? by ssmoot on Tuesday June 14, 2011 @06:42PM (#2655114)
You'd reasonably expect to give up partial updates for prepared statements, and IIRC their performance benefit was fairly marginal anyways.