WCF has its own serializer, which (IIRC) is binary, and which processes graphs of objects that cannot serialize XML. It should also not contain the detailed overhead of XML. As Grigie noted, this is probably an overwhelming concern about optimization.
Is WCF more efficient than JSON? I donβt know, Iβm not sure that it is so important.
In coding there will be a thin service level and ASP.NET hosting that will add additional service data. Regardless of whether this affects performance, this is a separate issue; itβs just overhead, which can be seen compared to the service data of the .asmx or MVC controller for processing services.
I do not think that you really get any of the other WCF features in this case. Using WCF for ASP.NET Hosted Web Services limits you to a specific binding protocol.
EDIT: Looking at a project where I used WCF for web services, this is HttpBinding web. As noted in the comments, this will be JSON. On the other hand, if you use the ASP.NET ScriptManager tag, it dynamically creates a proxy server that includes data analysis, so you never know how the data is serialized.
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