My question has two parts: why would one use <> when it's so slow relative to read,

Because efficiency isn't always the goal. If you wanted something to be really fast you'd probably be better off choosing another language. It's very convenient for writing straightforward and readable code.

and why hasn't <> been implemented in such a fashion that it takes advantage of read's quickness?

It actually has been, but read() isn't doing all that <> is.

-sauoq
"My two cents aren't worth a dime.";