This uses the FXAA "PC Quality" shader taken from NVIDIA's GraphicsSamples repository. The default parameters are the highest quality FXAA has to offer, which on my GPU (R9 380) is quite fast! The default settings recommended by NVIDIA average 0.028ms per frame, with this histogram of timings:
The highest settings, which are the default with this patch, are average 0.026ms per frame, with this histogram:
Someone from the blender discord ran a quick "benchmark" (a suzanne with high-contrast checkerboard texture) on an i5-6200U iGPU, and got a max pass time of 0.42ms per frame, min 0.014ms, average 0.031ms, with this histogram:
All X axis are in milliseconds. So overall, I guess the performance impact is quite small on modernish GPUs, I don't think we necessarily need to expose the performance vs quality tuning options.
Here's a visual comparison with
this scene (modified from https://www.blendswap.com/blends/view/83399).No FXAA:
FXAA:




