Well, in my own personal benchmarks, the with () operator actually showed that the bit is a bit slower. It doesn't really matter if you're not trying to squeeze every last ounce of performance out of your movie. The same could be said for loops against variables instead of constants, or while loops against loops. If you don't mix these loops in a lot of iterations, you really don't need to worry about that.
Regarding code readability, I think this makes a cleaner look using with (). It all comes down to the coding style. The only time I really use the with () operator is a known target. Suppose you have a mouse event handler that selects objects by click and sets it as currentObject. Then you can have a function that does something like
with(currentObject)
{
x = 100;
y = 100;
alpha = 0.5;
}
, -, , . . , , - currentObject.x = 100; currentObject.y = 100;