Which type of external storage will yield fastest performance with a mac?
At this point will the difference in speed between a Sandisk Extreme portable SSD and a faster NVMe setup ever be observable/detectable? If so which NVMe memory and enclosure do you recommend?
What I can tell you is that when I moved my Lightroom folder from a 200MB/s spinning platter to a 300MB/s USB 3.0 external SSD, I noticed a substantial improvement in responsiveness, even with the master image files still on the spinning platter. When I moved the Lightroom folder and the master image files to a 1000MB/s internal SSD and then an NVME in a 1500MB/s Thunderbolt enclosure, I noticed no further improvements.
In short, depending on what you intend to use it for, the "fastest performance" may simply be wild overkill. Nowadays, I'd go for an 800MB/s USB 3.x Gen 2 external SSD, as that's where the price/performance sweet spot is. Using SSDs for archival storage of large numbers of master image files seems like a waste of money.
Plus, my experience has been that when SSDs fail, they just drop dead in an instant with no warning, whereas utilities like TechTool Pro that monitor drive health often provide sufficient warning to transfer data to a new drive when an old hard drive starts to wear out. Both of these things have happened to me in the past decade. More than once.
Caveat: Many USB enclosures don't pass through SMART data on drive health to drive utilities, so there's no warning to be had. For this reason, all my critical hard drives are in Thunderbolt enclosures, which do pass through this data and allow the utilities to effectively monitor them.