I'm building a portfolio post type and I want to have a way to mark certain pieces as featured, some as normal (default) and others as archived. The pieces would only ever be one of these 3. Because of the singular value it makes sense to me that this be post meta. But, i've read that querying by taxonomy is supposedly faster, so I've built a solution where featured, normal and archived are 3 terms in a custom taxonomy.
Should I stick with the taxonomies for this case, or switch to post meta. I realize that is an opinion question, so to make it more specific: is the query speed improvements worth the added complexity of creating a custom taxonomy and modifying it so that it can only ever have 1 term? Is a taxonomy where you can only have 1 term defeating the purpose of a taxonomy in the first place?