Multiple static mesh material slots with material instances vs one material slot with texture performance

That makes no sense.
If A costs X why would a copy of A cost Y ?

All an instance is, is quite literally, a copy.

Now, if you create the master material properly with a bunch of switches that cause recompile, and you toggle a bunch of them in a specific instance - then yes, the cost is different because you altered that instance.
But not anymore or any less than the main material, were the same settings to be changed.