> Therefore, the standard forces the compiler to generate "safe" code for the switch. Safety, as usual, has cost, so the switch version ends up doing a bit more per loop iteration.

Safety only has a cost in this case because the switch is fundamentally just operating on an integer. With an actual enumerated type (rather than C's primitive "enums as numeric aliases"), which even a basic type system could trivially enforce, there would be no need for this check, because the domain of the value would be guaranteed at compile-time.