Somewhat related, but you don’t really need to use timelines at all for rotating object, particularly if you have them looping infinitely. Just use the Rotating Movement component
I don’t know if it has any particular performance boost, but it certainly works more elegantly than having to create a timeline.
I would expect level sequences to be slightly less performant for simple tasks since it is a bit more of a heavy weight object that supports many additional features than interpolating transforms. Timeline is a dedicated tool for interpolating values from a curve and outputting a vector or float so the code for that would be more streamlined to that task. However, if you need the additional capabilities of level sequence it is a very powerful tool.