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In the case of preloading. The performance you're shaving off is all the time it takes to download all the images on your page. Which can be significant.

If you're on a slow connection, it can make a page load like it was loading from cache. Which can be quite significant compared to the css approach.

The question of whether the time spent implementing the feature is worth the benefits for a particular project / audience will vary on your use case.

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