Most of Apples documentation seems to avoid using autoreleased objects especially when creating gui views, but I want to know what the cost of using autoreleased objects is?
I generally use autoreleased objects these days because they tend to result in simpler, easier to read code. You declare and initialize them, then let the drop out of scope. Mechanically they exist quite a bit longer, but from the perspective of the person writing the code it is equivalent to a stack declared object in C++ automatically being destructed when the function returns and its frame is destroyed.
While there is an efficiency loss, in most cases it is not significant. The bigger issue is the more extant objects and later memory recovery can lead to a more fragmented address space. If that is an issue it usually is fairly simple to go in and switch to manual retain/release in a few hot methods and improve it.
As others have said, readability trumps performance in nonperformance sensitive code. There are a number of cases where using autoreleased objects leads to more memory fragmentation, but in any case where the object will outlive the pool it will not. In those cases the only price you are paying is finding the cost of finding the correct autorelease pool.