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I imagine it would be similar to an internal HDD. USB 3 would be a bit of a bottleneck but external HDDs are slower than that so I would think an SSD would be better. If you're using Thunderbolt or USB C I imagine it would be pretty good.
I did look at this when I thought I'd go down this route, and still may progress to it, but there are very few speed comparisons of external SSD and HDD speeds. I had a spare USB HDD so went with that but now I've got it working I'll probably look into an SSD at some point.
That is awesome. What do you think it would be like on an external ssd?