The source code is the best reference you can find.
In terms of memory, the ColorRamp uses more memory (floats vs colors). But in terms of speed, both use the same algorithm and the performance is quite the same.
correction (I confused the maprange with the floatcurve)…
The MapRange is far faster than the ColorRamp, as it only makes a few multiplications and subtractions. The ColorRamp needs to store the control points and interpolate them.
Knowledge and to better my abilities by being more efficient?
An example would be knowing that I’ve tuned a procedural material as much as I really can and that the remaining next step for performance would be baking it out.
But if I’m ignorant of these things I can end up in situations where I sacrifice fidelity for performance when I didn’t need to.
Would like to see more interpolation modes in map range, as well as a clip preview output as I now have to use a custom node for this. While never as flexible as curves and ramp, map range does offer the flexibility of controlling the parameters (like noise → from min).