Using an ORM is generally slower. But the boost in productivity you get will get your application up and running much faster. And the time you save can later be spent finding the portions of your application that are causing the biggest slow down - you can then spend time optimizing the areas where you get the best return on your development effort. Just because you've decided to use an ORM doesn't mean you can't use other techniques in the sections of code that can really benefit from it.
