Revisit Properties data structure tradeoffs and choices

[echeran]

Some Properties APIs can be backed by different concrete implementation data structures, each with its own set of tradeoffs. Many of the tradeoffs are in the space-time tradeoff category along a continuum. Example of previous discussion.

Benchmark data would help us evaluate the relative worth of the pros and cons. This issue is about revisiting after that is available and evaluating.

Depends on benchmarks from #1665 being created first