architecture - Compile time vs run time polymorphism in C++ advantages/disadvantages

Question

In C++ when it is possible to implement the same functionality using either run time (sub classes, virtual functions) or compile time (templates, function overloading) polymorphism, why would you choose one over the other?

I would think that the compiled code would be larger for compile time polymorphism (more method/class definitions created for template types), and that compile time would give you more flexibility, while run time would give you "safer" polymorphism (i.e. harder to be used incorrectly by accident).

Are my assumptions correct? Are there any other advantages/disadvantages to either? Can anyone give a specific example where both would be viable options but one or the other would be a clearly better choice?

Also, does compile time polymorphism produce faster code, since it is not necessary to call functions through vtable, or does this get optimized away by the compiler anyway?

Example:

class Base
{
  virtual void print() = 0;
}

class Derived1 : Base
{
  virtual void print()
  {
     //do something different
  }
}

class Derived2 : Base
{
  virtual void print()
  {
    //do something different
  }
}

//Run time
void print(Base o)
{
  o.print();
}

//Compile time
template<typename T>
print(T o)
{
  o.print();
}

Answer 1

Static polymorphism produces faster code, mostly because of the possibility of aggressive inlining. Virtual functions can rarely be inlined, and mostly in a "non-polymorphic" scenarios. See this item in C++ FAQ. If speed is your goal, you basically have no choice.

On the other hand, not only compile times, but also the readability and debuggability of the code is much worse when using static polymorphism. For instance: abstract methods are a clean way of enforcing implementation of certain interface methods. To achieve the same goal using static polymorphism, you need to restore to concept checking or the curiously recurring template pattern.

The only situation when you really have to use dynamic polymorphism is when the implementation is not available at compile time; for instance, when it's loaded from a dynamic library. In practice though, you may want to exchange performance for cleaner code and faster compilation.