Do IfModule checks in your htaccess file actually result in a performance hit?

It doesn't seem to make a difference on the servers I maintain (granted, they don't get a very high amount of traffic), and I haven't run any heavy analysis other than browser load times.

I've seen folks who say that it does result in a significant performance hit, and also folks that say there's no hit, and still others that say it's so miniscule that it doesn't really matter. However, I haven't seen any solid data to back this up to show which school of though is actually correct.

Has anyone seen any solid data/testing on the subject?