It’s not that easy: you need to consider the total size and cardinality of the fields potentially being denormalized, too. If, say, the JOINed values fit in memory and, especially, if the raw value is much larger than the key it might be the case that you’re incurring a table scan to avoid something which stays in memory or allows the query to be satisfied from a modest sized index. I/O isn’t as cheap if you’re using a SAN or if you have many concurrent queries.