I just reformatted a WD RED 18TB after swapping out the Seagate EXOs in the Orico external enclosure for both MacOS Extended Encrypted (aka HFS+ with Core Storage), benchmarked, and APFS encrypted, and benchmarked and APFS encrypted is significantly slower on writes than good ol MacOS Extended Encrypted... That's interesting.
Notably, MacOS Extended Encrypted is no longer available in the GUI for formatting in the drive utility in Ventura; had to use an old Mojave machine to format the drive with the GUI for MacOS Extended, Encrypted. Ventura only permits MacOS Extended these days. I bet the CLI option is still available but I don't prefer formatting drives with CLI whenever possible (risk of human error).
APFS is the successor file format, but is running a container on a spinner a good idea? Especially if the container is the entire drive?
Thought I'd get the opinions of others if this is a good idea, bad idea, perhaps why from someone smarter than I on Mac file formats.

MacOS Extended Journaled with Core Storage (aka HFS+ with Encryption)

APFS with Encryption
I re-ran the results after re-formatting back to HFS+ with encryption after APFS encrypted formatted to ensure it wasn't some kind of garbage collection getting in the way, nope, same results. Definitely a repeatable performance regression using APFS encryption on spinners anyways compared to HFS+ with Core Storage (Encryption). APFS encrypted and HFS+ Encrypted work on both my Mojave and Ventura machines, btw. Odd move for Apple to depreciated it in the GUI. Well perhaps not, they were the first to ship a PC without a CD-ROM drive... Sure, whatever.

Is this the droid we're looking for? Okay, Star Wars jokes aside, figured I'd put up a picture, it's DPR afterall
FYI...
Enclosure:
https://www.newegg.com/p/0VN-0003-00227?Item=9SIA1DSJA85697
Drive:
https://www.amazon.com/gp/product/B08K3TFM92/
Notably, MacOS Extended Encrypted is no longer available in the GUI for formatting in the drive utility in Ventura; had to use an old Mojave machine to format the drive with the GUI for MacOS Extended, Encrypted. Ventura only permits MacOS Extended these days. I bet the CLI option is still available but I don't prefer formatting drives with CLI whenever possible (risk of human error).
APFS is the successor file format, but is running a container on a spinner a good idea? Especially if the container is the entire drive?
Thought I'd get the opinions of others if this is a good idea, bad idea, perhaps why from someone smarter than I on Mac file formats.

MacOS Extended Journaled with Core Storage (aka HFS+ with Encryption)

APFS with Encryption
I re-ran the results after re-formatting back to HFS+ with encryption after APFS encrypted formatted to ensure it wasn't some kind of garbage collection getting in the way, nope, same results. Definitely a repeatable performance regression using APFS encryption on spinners anyways compared to HFS+ with Core Storage (Encryption). APFS encrypted and HFS+ Encrypted work on both my Mojave and Ventura machines, btw. Odd move for Apple to depreciated it in the GUI. Well perhaps not, they were the first to ship a PC without a CD-ROM drive... Sure, whatever.

Is this the droid we're looking for? Okay, Star Wars jokes aside, figured I'd put up a picture, it's DPR afterall
FYI...
Enclosure:
https://www.newegg.com/p/0VN-0003-00227?Item=9SIA1DSJA85697
Drive:
https://www.amazon.com/gp/product/B08K3TFM92/
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