Do the crossdrilled slotted rotors make much difference to cooling and stopping performance on our Commandos?
It depends! Some of the best rotor materials are iron, delivering a higher coefficient of friction. But generally more fragile. You don't want to drill or slot these too much for integrity reasons.
Steel rotors have improved materials now, and tolerate more drilling and slotting, have improved friction figures and cope with more abuse from high friction pads. So the real issue of materials is that a steel disc can tolerate a higher friction sintered braking material with less resultant wear to the disc than is the case with cast iron. Some pads are designed to lay a coating on the disc surface and won't give best braking until fully coated! Continually swapping pad materials for comparisons can therefore be confusing!
Better stopping with floating discs really comes from the ability to use more aggressive pad materials, not really the 'float' itself. Floating discs are designed to allow radial expansion of the pad track and thereby reduce the risk of distortion, so they warp less with your high friction pads.
A certain amount of drilling and slotting can clear water quicker and will tend to maintain a fresher pad friction surface with a bit less glazing. Logically they also dissipate heat quicker through more surface area, but that is difficult to fully evaluate in normal (or even abnormal) use. And at some point there is a trade with swept pad area!
So to recap.....floating discs are designed to allow radial expansion of the pad track without distortion, so they warp less with your high friction pads. Better stopping really comes from the ability to use more aggressive pad materials, not really the 'float' itself. I did use a set of floating 'wavey' discs on my GSR750 track bike and they were great, much better than the standard disc for both stopping power and feel, but hard to say if the main benefit was derived from the pad track design or the improved materials! I think they were a good material and worked well with the Bendix race pads. It also has to be said that on this bike the Brembo radial master cylinder was an essential part of the package that brought it all together.
But I have turned a floating disc into a pretty good impression of a clutch diaphragm spring! So it is no guarantee. You will know you have done this from the increased lever travel when you have confirmed there is no air in the system but the lever travel is still excessive. Analysis showed the cause to be sticky caliper pistons in the 6 pot calipers holding the pad on the disc surface, the cure also included rebuilt calipers with fresh seals.
So yes, modern material floating wavey discs with loads of holes and slots used with the correct master cylinder and pad choice for your planned riding can make an excellent brake!
But an original (plating free) cast disc with a soft organic pad can work well for most uses if you sort the master cylinder bore/caliper piston area ratio to your preference, not everybody likes the same and your own physique will affect your preference.
But as I think Comnoz pointed out really clearly, things vary a lot depending on the use you put it to.
And more of it is cosmetic than people like to admit!