When it comes to the SQL Server execution plan, there are no significant speed differences with stored procedures and regular uncompiled queries. See this for more information on other speed factors.
LINQ-to-SQL generates normal paramatized queries (SQL Server knows nothing about LINQ, the application generates normal SQL), so the balance is the same. That is, if you are not using LINQ-to-SQL functions that invoke Stored Procs (assuming that you had in mind the query material).
You can also read this , which is a similar question, but focuses on the more important benefits of LINQ vs StoredProcs
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