If you talk about doing INSERT manually, one by one, then DROP / CREATE will be much faster. In addition, when using CREATE TABLE AS it only copies column definitions. Indexes and other restrictions will not be copied. This will speed up the copy process. But you will have to remember to re-create them on a new copy as soon as you are done.
The same applies to SELECT INTO . They are functionally identical. They just have different names.
Anyway. When copying large tables, always turn off triggers, indexes, and restrictions to improve performance.
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