From my testing Write-Output and [Console]::WriteLine() perform much better than Write-Host.
Depending on how much text you need to write out this may be important.
Below if the result of 5 tests each for Write-Host, Write-Output and [Console]::WriteLine().
In my limited experience, I've found when working with any sort of real world data I need to abandon the cmdlets and go straight for the lower level commands to get any decent performance out of my scripts.
measure-command {$count = 0; while ($count -lt 1000) { Write-Host "hello"; $count++ }}
1312ms
1651ms
1909ms
1685ms
1788ms
measure-command { $count = 0; while ($count -lt 1000) { Write-Output "hello"; $count++ }}
97ms
105ms
94ms
105ms
98ms
measure-command { $count = 0; while ($count -lt 1000) { [console]::WriteLine("hello"); $count++ }}
158ms
105ms
124ms
99ms
95ms