Depending on the frequency of operations, the size of the files, and the number of files you're looking at, there are other performance issues to take into consideration. One thing to remember, is that each of your byte arrays will be released at the mercy of the garbage collector. If you're not caching any of that data, you could end up creating a lot of garbage and be losing most of your performance to % Time in GC. If the chunks are larger than 85K, you'll be allocating to the Large Object Heap(LOH) which will require a collection of all generations to free up (this is very expensive, and on a server will stop all execution while it's going on). Additionally, if you have a ton of objects on the LOH, you can end up with LOH fragmentation (the LOH is never compacted) which leads to poor performance and out of memory exceptions. You can recycle the process once you hit a certain point, but I don't know if that's a best practice.
The point is, you should consider the full life cycle of your app before necessarily just reading all the bytes into memory the fastest way possible or you might be trading short term performance for overall performance.