Just keep in mind that APFS is one of the least flexible formats. No easy way to use the drive with any other platform, or even older Macs. If that is no worry, you should be set."Date Added" does not work on this ExFAT file format (Tested on Big Sur 11.1 @M1 Mac Mini)
Thank you for asking. I found the answer to my question. It's ExFAT. And here is the test results for various partition schemes / file system .. (I triple checked the numbers after posting and I tested the one with APFS many times over to be sure)
I'm definitely going to use the GUID-APFS. It's clearly fastest and also because "date added" works on anything but ExFAT.
mbr-exfat
View attachment 1705026
mbr-extended journaled
View attachment 1705027
apple partition map - extended journaled
View attachment 1705028
GUID-apfs
View attachment 1705029
As I recall it also tends to do a lot more caching and snapshotting (more overhead, more wear)...but that may only be true on a boot drive.