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Setting Out gain to -0.2dB is the same thing as setting ceiling to -0.2dBFS since limiting occurs at 0dBFS. Of course, the ceiling will still be staying at 0 dBFS, but you are affecting the output signal level and it turns out to be the same as ceiling at -0.2dBFS.
CPU load may vary due to knee processing: it takes less CPU time when level stays below some threshold. It should not be a large change, though - maybe a dozen percent relative to overall plug-in's CPU load.
Sluggishness of UI is not really a 100% plug-in related thing: audio hosts may reduce UI update frequency when audio part is taking a lot of CPU time. I've noticed this especially on Mac OS X.
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