Originally Posted by Phanx
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(3) Instead of formatting text yourself with string.format and then passing the result to :SetText, you should pass all of the arguments directly to :SetFormattedText, which does the same thing but offloads the work into C code, which is (presumably) faster.
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Actually, the biggest reason to use this is that it goes straight to the C-side, thereby bypassing the creation of a Lua string. Since Lua strings are immutable, this can considerably reduce memory usage.