Honestly, I've only worked with XML::Twig so I cannot tell you how it compares to other modules. However, I recommend looking at this FAQ entry:

That said, ifyou need to process a document that is too big to fit memory and XML::Twig is too slow for you, my reluctant advice would be to use "bare" XML::Parser. It won't be as easy to use as XML::Twig: basically with XML::Twig you trade some speed (depending on what you do from a factor 3 to... none) for ease-of-use, but it will be easier IMHO than using SAX (albeit not standard), and at this point a LOT faster (see the last test in simple benchmark).