This one actually left me a little confused. The general takeaway seemed that hes suggesting premultiplied is better because its somehow done more of the work already, and that straight alphas need more internal calculations. But that seems to be missing the biggest downfall of premultiplied, in that the alpha channel is pre-baked against a specific colour. This is ok if its all alpha'd against black or white, but if theres more than one colour in the background then youre screwed. Straight alphas on the other hand are only ever merged with their own colours and will work against any background with no fringing. Premultiplied alphas also fare badly with soft transparent parts such as fire, smoke etc.