Just in case you don't see the update on the original question: when you are reflecting to find all the types that support a certain attribute, you have a perfect opportunity to use caching. That means you don't have to use reflection more than once at runtime.
To answer the general question, reflection is slower than raw compiled method calls, but it's much, much faster than accessing a database or the file system, and practically all web servers do those things all the time.
