This does NOT prevent you from using Extended Find if you want to when mapping components, it just means that TestComplete won't automatically use it. If you turn that option off, you should see a performance improvement in mapping any and all objects and in the processing time after recording.
Why automate? I do automated testing because there's only so much a human being can do and remain healthy. Sleep is a requirement. So, while people sleep, automation that I create does what I've described above in order to make sure that nothing gets past the final defense of the testing group. I love good food, good books, good friends, and good fun.