Speed of loading is totally dependent upon how you set up your sequence file. If you set everything to load when the file comes into memory then during execution time you won't have any load time. Not sure if you've read this PDF. It is helpful:
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwjUoObyl_bPA...
Specifically chapter 7 is helpful.
I've used packed project libraries quite successfully. I develop to them. You can have the deployment utility create one big one for you. I've had limited success with that option. I've found it cleaner to create them in LabVIEW and then write TestStand to call them.
I know that if you have classes and dynamic dispatching you need to explicitly call out the class you need in your workspace so they get deployed. Just a caveat to be aware of.
Running with the LVRTE depends completely on what type of license you have on your deployment PC. Everything we do is deployed to LVRTE because we just can't afford 500 development licenses. Plus the technicians and testers in the lab will change the code if we have the ADE on the machines.
Hope this helps,
