The exfat file system is more efficient for storage as the cluster size is smaller. I really don't know how it compares to fat32 as far as performance. I don't think it will make a difference because the majority aren't running apps on it.
The main reason I keep pushing using fat32 is the majority of us will eventually need to access it from recovery. If you knew how many times I had to address this both in the forums (during the manual update) and even more in pm's you would understand.
I know everyone isn't rooting their phones but if you do, having you card in fat32 is almost a necessity because almost everything you do is in recovery.
Like I said, not everyone is rooting but how many people were installing the update manually? And how many times was the issue raised?
And yes there is a file size limit with fat32 but in all of my years on computer or phone I've never reached it.