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as compared to a router? yes. Anytime you compare the performance of a specialized device to that of a general device, then the specialized device is almost always faster.
If cost is a factor, your solution will work, but a router is almost always a better choice as it can have features (like firewall, VPN and encyption) that are processor intensive and the specialized ASIC's in router are designed to deal better than that of a general processor.
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