I am building up a view with various text and image elements.
I want to display some text in the view with a blurry copy of the text behind it, but not just a text s
You will take a performance hit if you use alpha layers. Consider a different approach if possible (maybe even precompositing the text and flattening it into a graphic instead of multiple layers).
Try it, and use Instruments to check out the performance and see if it's acceptable. If you're doing it in a scrolling view, your scrolling will bog down a lot.