Say I have a simple table that has the following fields:
The question of speed is irrelevant without a specific speed problem.
If you are writing SQL code to make a change to an existing row, you UPDATE it. Anything else is incorrect.
If you're going to break the rules of how code should work, then you'd better have a damn good, quantified reason for it, and not a vague idea of "This way is faster", when you don't have any idea what "faster" is.