Insert has been around since I started on pro at rev 15. It's not new.
There are a few specific instances where insert or align are better (from my
experience)
1.If you are assembling a part using 2 holes and the cooresponding holes
aren't exactly the same dimension apart (rounding,fractional preference,etc)
align works and usually orients the part correctly. Insert leaves the
component as partial or invalid.
2. If you use insert as the first constraint, a future constraint may allow
for the align or mate angle option.
3. Slots, well, you have to have something to assemble to, so I usually add
an axis or an axis pt in the sketch so I use align.
I have done no speed test, so I'm at a loss there.
I suspect this will be sort of like shown vs. created dimensions. You take
sides and you defend your side to death. I don't remember a case where I
have concluded a constraint failed because it was align vs. oriented or
oriented vs. aligned. Just guessing, I would think the axis is more stable,
but in practice I usually use insert. Although I remember a time when I was
more likely to use align, but now the way layers work, you can't select an
axis unless the layer is turned on, I lean toward insert.
Good luck in your quest,
Steve