This doesn't match with my experience. After working on this problem a lot, I came to the conclusion that musttail with opaque function calls is one of the best ways of getting good code out of the compiler: https://blog.reverberate.org/2021/04/21/musttail-efficient-i...
An instruction handler here being a dispatch function. It handles a single instruction.
Reading your post it says so under Limitations. Opaque calls trashes performance. I guess we agree, but then again I was just reading my assembly, so I had no reason to doubt myself.
I recently saw this, which is a very interesting approach for using non-tail-call fallback functions without trashing the code: https://chromium-review.googlesource.com/c/v8/v8/+/4116584
And as to why the rest are faster, I spent much time optimizing the interpreter and learning what the best way to write interpreters is. Its mostly jump threading and Mixed Data.
Nice work!