With a Seagate hard disk drive on USB 2.0 with a MacBookPro8,2, verbose mode, I find that booting from build 17A264c of 10.13 with APFS is much slower than booting the other systems (10.9.5, 10.12.5) on the same disk with HFS Plus.
Almost certainly much slower working with applications.
With a different hard disk drive, given entirely to a clean installation of 17A264c:
- booting with HFS Plus took around 90 seconds (between the start of verbosity and appearance of the login dialogue)
- after conversion to APFS, around 210 seconds.
Still with 17A264c I used fdesetup(8) to enable FileVault. Restarted a few times, during and after migration, performed measurements. The final boot before the update to 17A291j was comparably time consuming. In detail:
- 17:59:00 – unlocked
- 17:59:06 – early boot began
- 18:00:07 – early boot complete, system boot began
- 18:02:59 – on-screen verbosity ended, grey screen and progress bar began
- 18:03:50 – desktop background appeared
- 18:06:12 – clock appeared in the menu bar.