perf
Why do we build a prototype inheritance chain rather then using object composition. Looking up through the prototype for each step in the chain get\'s expensive.
Here are some benefits I can think of in order of importance
By using the prototype, you create shared properties. Your approach copies all the values to each object.
Thought you are saving a little bit of time later, you are incurring the cost of copying properties when you set up the object. It'd be nice for you to account for that in your performance tests. This is a benefit that may be outweighed if you read a lot more than you set up your objects.
Good code doesn't use instanceOf, but sometimes you can't make all your code perfect, so why break a language feature?
Most people will claim that they never need this (like me), but many of us have extended Array.prototype after instantiating some arrays (not that you should do it). With the copy properties approach you lose the reference to the original object.
Unashamed plug: http://js-bits.blogspot.com/2010/08/javascript-inheritance-done-right.html
Last Note If you this is actually a bottleneck in an app, I would not be reluctant to use it for the objects in question