In regards to number of queries; I have seen on this forum people that have written a *single* monstrous query that kills the server. By comparison, 30-60 well honed, sane queries will not have that much impact.
It’s quality, not just quantity. Both do play into it, of course.
Indeed, I didn’t mean to overstate query counting as a means of performance optimization… The number that is really important to us is page load.
In the context of the conversation, however, I believe that Joe was mainly looking for the most efficient way to break templates up into reusable pieces. Embedded templates are snappy, no doubt - but if you are looking at ways to squeeze a little extra performance out of your site then cutting out some unnecessary queries is an ok place to start.