I started out fly sparging, but soon converted to batch sparging.
I've noticed no drop in efficiency nor any difference in the beer flavour.
I find it easier to hit the correct volumes when batch sparging and it also lessens the risk of extracting undesirables towards the end of a fly sparge. I just find batch sparging a lot less hassle.
Time savings are minimal for me.....my kettle is powered by an electric element and I need at least 23 litres in there before I can switch on the element.
I have been considering getting a smaller kettle recently to use for smaller batches on a gas burner.