I understand that HSS eats quite a lot of power. But of course, an ND filter also eats power.
ND filters do not eat power, see below in my standard blurb:
High-Speed Sync (HSS) is less efficient than neutral density (ND) filters because much of the flash's power is wasted on the shutter curtains, reducing the light reaching the sensor. This requires the flash to be closer to the subject, sometimes impractically so. With ND filters, you set the camera to its x-sync speed, adjust the flash to overpower the sun if needed, and shoot.
A common misconception is that ND filters make it harder to overpower the sun because they reduce flash power. In reality, ND filters reduce both flash and ambient light equally. If your flash can overpower the sun at f/11, using an ND filter simply requires opening the aperture to compensate, maintaining the same flash power.
For more on HSS inefficiency, see:
- Improving Flash Efficiency with ND Filters
http://betterfamilyphotos.blogspot.com/2010/05/improving-flash-efficiency-with-nd.html
- High-Speed Flash Sync
http://neilvn.com/tangents/high-speed-flash-sync/
I can overpower the sun with a single bare SB-5000 flash, but I prefer using two for reduced strain, extended range, and faster recycling. My DSLR gear, with fast lenses and bright viewfinders, handled up to five stops of ND filters well. Consumer gear with slower lenses and dimmer viewfinders may struggle beyond two stops. Five stops is my maximum recommendation. With mirrorless cameras, ND filters don’t affect composing since the electronic viewfinder (EVF) compensates by brightening the image.
When shooting at f/1.4 in bright sunlight with flash as the key light and ambient light underexposed, HSS or HyperSync becomes useful. For example, underexposing ambient light might require f/22. Using ISO 50 brings it to f/16, and an x-sync speed of 1/200 brings it to f/11. A five-stop ND filter gets you to f/2. For f/1.4, you’d need HSS, HyperSync, a shaded area, or a six-stop ND filter. Otherwise, ND filters are more efficient for flash photography.
HSS eliminates the need for ND filters, which is convenient. Some prefer HSS, believing higher shutter speeds better freeze motion (a separate topic). However, if you already own ND filters, they can be more cost-effective, as HSS-capable flashes are typically more expensive than non-HSS flashes.