Does disabling network security protocols with MAC filtering increase network performance?

A friend of mine and I were discussing this scenario. If I disable networking security protocols (such as WEP, WPA or WPA2) and enabling MAC filtering - would it boost network performance for the connected machine while protecting the network from bandwidth attackers?

Here's the scenario - we were wondering if adding security protocols since they add extra processing to encrypt & unencrypt information, as well as adding extra bits for the encrypt itself takes compute cycles to resolve. If we remove those, we assume we also remove the compute cycles it takes to handle that security.

But then that leaves the network open for anyone to connect. So if we added a MAC address filtering, that only we know - it could potentially help avoid that attack.

Would that speed things up for the connected machine, even if negligible? Has anyone tried such a configuration before?