I can give you my own experience.. for a community site I built, that would have been too much. What are all those selects and updates for?
Some table types penalize you less if you are doing selects and inserts at the same time.
You might want to see if you can apply GROUP BY to reduce the number of selects you are doing.. The presorted output is much faster to access within Perl. I got 20x-30x efficiency improvement for a spreadsheet report generator.
If you can make more complex data objects and maybe serialize you might be able to get away with a just a couple of statements. Perhaps if you post your data structure and what you need to do you could get more help.
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