It seems like the second one would be faster, I guess it depends how many values you are getting out of each row returned.
If you are getting a row with say 10-20 items, then it seems like it'd be faster to fetch the whole thing into an object or array, and then just use $row->id, $row->name, etc...
If you are only returning one or two things, then it seems like it'd be faster to just automatically assign that a variable, rather than creating a whole object.
of course, i'm no professional and the actual speed difference is probably very small.
the only extra info I can add is to put your $result = mysql_fetch_object($result) into an if statement. this is good if you aren't sure that anything will be returned from the query.
<BLOCKQUOTE><font size="1" face="Verdana,Arial,Helvetica">code:</font><HR><pre>
$query = mysql_db_query($query_statement);
if ($result = mysql_fetch_object($query))
//Print out values...
} while ($result = mysql_fetch_object($query));
Don't know if this helps or not...if not, spend my $0.02 on something nice...