In response to using exec instead for performance (Nov 13 2007 post), It looks like the performance depends on the size of the file. See the results below using the same script from the original post. The first hash is with md5_file and the second is with openssl md5.
With a 1MB file:
Hash = df1555ec0c2d7fcad3a03770f9aa238a; time = 0.005006
Hash = df1555ec0c2d7fcad3a03770f9aa238a; time = 0.01498
With a 2MB file:
Hash = 4387904830a4245a8ab767e5937d722c; time = 0.010393
Hash = 4387904830a4245a8ab767e5937d722c; time = 0.016691
With a 10MB file:
Hash = b89f948e98f3a113dc13fdbd3bdb17ef; time = 0.241907
Hash = b89f948e98f3a113dc13fdbd3bdb17ef; time = 0.037597
Performance seems to change proportionally with the file size. Judging from the previous post's default file name (.mov) he/she was probably dealing with a large file. These are just quick tests and far from a perfect benchmark, but you might want to test your own files before assuming that the openssl solution is faster (ie, if working with small text files vs. movies, etc)