After coming across the code golf trivia around the site it is obvious people try to find ways to write code and algorithms as short as the possibly can in terms of characters,
Absolutely not. Code size and performance (however you measure it) are only very loosly connected. To make matter worse whats a neat trick on one chip/compiler/OS may very well be the worse thing you can do in another archictecture.
Its counter-intuitive but a clear well written simple as possible implmentation is often far more efficient than than a devious bag of tricks. Today's optimizing compilers like clear uncomplicated code just as much as humans and complex trickery can cause them to abandon thier best optimizing strategies.