@Jonathan Heuer Formula Queries do run within your application so they will contribute overall to your applications traffic. It is still accessing and running against that data so as your data set gets bigger the performance impact does as well. In a lot of cases that is going to be less demand or less intensive then building a bunch of relationships, formula and summary/lookup fields to get similar results but in some cases it will add to your apps complexity and performance so it will be something to consider as you add them to your apps. That is also something we are keeping a very close eye on during our Beta process.
