The original post had nothing to do with "compiling a custom kernel." Kernel hacking is writing code and developing drivers for unsupported hardware and/or improving existing drivers.

code that is compiled directly into the kernel, as opposed to a module, will execute faster because the kernel doesn't have to stop and load/unload the module.
I disagree. The kernel doesn't load/unload any modules. Unless, you have enabled automatic module loading support (or whatever the name is), and in that case it will automatically load a module if it is needed. Such an example would be when you start X-windows and the kernel automatically loads your DRM module.

In fact, having modules could actually speed things up. If you don't have a use for a certain peice of hardware at the time, then what is the point of wasting your memory with uneeded drivers?

--Sudo