This is quite an old conversation by now and apache commons are now using a StringBuilder internally: http://commons.apache.org/lang/api/src-html/org/apache/commons/lang/StringUtils.html#line.3045
This will as we know improve performance, but if performance is critical then the method used might be somewhat inefficient. Whereas the interface is flexible and will allow for consistent behaviour across different Collection types it is somewhat inefficient for Lists, which is the type of Collection in the original question.
I base this in that we are incurring some overhead which we would avoid by simply iterating through the elements in a traditional for loop. Instead there are some additional things happening behind the scenes checking for concurrent modifications, method calls etc. The enhanced for loop will on the other hand result in the same overhead since the iterator is used on the Iterable object (the List).