JPS-
Good question. There are two ideas when it comes to the strength retention of the brummel. 1- It's all in the bury. 2- It's in the lock.
I stick with number 1. I had a piece of 5/8" Yalex tested by Yale Cordage in Maine. This stuff has a break strength of 16,380lbs. With a locked brummel on each side, the 10' eye-to-eye sling broke at about 15,500lbs. This is almost a 95% retention, but was not good enough to pass Yale's certification requirements. The reason I did not get 100%: Bury was too short. I knew (or thought) that in a locked brummel, the strength is that crossover. Therefore, I made the bury a bit shorter than recommended for what you call the "stitched brummel." When you do a lock, only some of the strands share the load, which lead to breakage. A longer tail allows ALL strands to share in the load and will eventually lead to a 100% efficiency.
I spoke with a Jamie, a splicer and sales guy at Yale, and he said this is the reason they do not recommend/require the locked brummel. With the stitched brummel, you can easily get that 100%, and like Mike Maas said...it's a tad faster.
However, I still prefer the locked. Here's my reason: When I make a 24" 3/8" eye to eye sling to use as a prussik, I know that i will NEVER subject that thing anywhere close to the 5,400lb breaking strength. Not even close. I feel more confident in the locked brummel at lower loads (like my 165lb self!). I always do stitch the bury, just to keep things neat. And even though on a 24" sling, I can't bury both tails as long as would be needed to retain 100%, I know the slings I use are extremely strong.
I think that's my bit on this. If you got more question, send 'em my way! Not too bad for a student, eh, Tom!?
love
nick
ps- Yalex is better than Tenex!!
http://www.yalecordage.com/html/industrial/single_braids.html
http://www.samsonrope.com/home/mi/12stranddetail2.cfm?ProdNum=172