Technically, it uses less RAM.

A statement like z=a+b<<4+c<<8+d<<12

Will create 3 T variables to hold the intermediate results.
Each T var is a Word (Long for PBPL), so it uses at least 6 more bytes of RAM.
Of course, if the program already had T vars from other statements, it won't make any difference.

For Flash, it uses 6-8 words depending on variable locations.
z=a+b<<4+c<<8+d<<12, uses ~60 depending on library routines already used.

And Time wise, it takes about 6-8 uS @ 4Mhz
z=a+b<<4+c<<8+d<<12, uses several hundred.
<br>