In one of my first attempts to create functional code, I ran into a performance issue.
I started with a common task - multiply the elements of two arrays and sum up
I did some variations of this with Scala 2.8. The loop version is as you write but the functional version is slightly different:
(xs, ys).zipped map (_ * _) reduceLeft(_ + _)
I ran with Double instead of Float, because currently specialization only kicks in for Double. I then tested with arrays and vectors as the carrier type. Furthermore, I tested Boxed variants which work on java.lang.Double's instead of primitive Doubles to measure the effect of primitive type boxing and unboxing. Here is what I got (running Java 1.6_10 server VM, Scala 2.8 RC1, 5 runs per test).
loopArray 461 437 436 437 435 reduceArray 6573 6544 6718 6828 6554 loopVector 5877 5773 5775 5791 5657 reduceVector 5064 4880 4844 4828 4926 loopArrayBoxed 2627 2551 2569 2537 2546 reduceArrayBoxed 4809 4434 4496 4434 4365 loopVectorBoxed 7577 7450 7456 7463 7432 reduceVectorBoxed 5116 4903 5006 4957 5122
The first thing to notice is that by far the biggest difference is between primitive array loops and primitive array functional reduce. It's about a factor of 15 instead of the 40 you have seen, which reflects improvements in Scala 2.8 over 2.7. Still, primitive array loops are the fastest of all tests whereas primitive array reduces are the slowest. The reason is that primitive Java arrays and generic operations are just not a very good fit. Accessing elements of primitive Java arrays from generic functions requires a lot of boxing/unboxing and sometimes even requires reflection. Future versions of Scala will specialize the Array class and then we should see some improvement. But right now that's what it is.
If you go from arrays to vectors, you notice several things. First, the reduce version is now faster than the imperative loop! This is because vector reduce can make use of efficient bulk operations. Second, vector reduce is faster than array reduce, which illustrates the inherent overhead that arrays of primitive types pose for generic higher-order functions.
If you eliminate the overhead of boxing/unboxing by working only with boxed java.lang.Double values, the picture changes. Now reduce over arrays is a bit less than 2 times slower than looping, instead of the 15 times difference before. That more closely approximates the inherent overhead of the three loops with intermediate data structures instead of the fused loop of the imperative version. Looping over vectors is now by far the slowest solution, whereas reducing over vectors is a little bit slower than reducing over arrays.
So the overall answer is: it depends. If you have tight loops over arrays of primitive values, nothing beats an imperative loop. And there's no problem writing the loops because they are neither longer nor less comprehensible than the functional versions. In all other situations, the FP solution looks competitive.