Most likely, use a template system will cost a little bit more execution time, however to fulfill a HTTP request, you have to spend time for lots of other activities, two big ones would be: network communication, and database access (if there is any).

Instead of looking at the time the templating system use, you better look at the percentage of time used by the templating system, compare to the entire cycle of fulfilling the request.

More importantly, as chromatic pointed out, how easily the application can be developed and maintained is very important, actually more important. With a reasonablly good templating system, most likely you can develop the application in a short time, with a clearer face, and the maintainability is improved.

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