Hi Ed,
The instance cache is primarily for reducing the amount of time needed to populate, once you generate the cache file. Clip to camera is also aimed at reducing the time needed to populate, because it only populates areas visible to the camera, but of course it also needs repopulating which isn't the case with an instance cache.
I'm not actually sure of the render time benefits of using clip to camera, although I do know that it can be a bit problematic if you need reflections of or shadows from the instances outside the camera view, or if you're animating.
However I can say that if you used clip to camera to generate an instance cache then there would be no render speed difference between using that cache file and using clip to camera without a cache. This is because the same instances would be in the render with either method.
The only clear difference to render speed I can think of is if you're using clip to camera and you haven't repopulated prior to rendering. This is because the populators will need to repopulate as the render process starts and that could take some time which adds to the render time. If you were using an instance cache this wouldn't happen.
Regards,
Jo