I'm curious what others' thoughts are, or if there's been any testing done regarding the performance difference between nested IFs vs. OR/AND. I found a very old thread on this topic from 2014, but I expect the thinking & research has progressed a lot since then.
Let's say I have multiple criteria I need to check in order to produce a final determination. Using careful construction of nested IFs, I can allow early exits from the formula, which supports the P (Performance) rule of PLANS, however the resulting formula can be very long and convoluted. Using OR/AND results in a much simpler formula (L - Logical and A - Auditable in PLANS) but does not allow for early exits. In situations where one case is much more common than other(s), I imagine this could make a significant difference, especially over long timescales, many dimensions, etc.
What do you prefer to use?