With auto-select, all editing works fine during playback.
Sometimes I use it for quick and dirty dialog cleaning, with Cut head/tail, clip gain and fade to cursor shortcuts, grouped together on the keyboard.
It is very fast, one keystroke/one command ratio.
With jogwheel it is a bit slower, you have to select the function first and then change the value with jog.
You can have the same thing using mouse wheel and change parameters in the Info line.
However with proper transport jog + keycommands, there is no faster editing for me. Of course, not during playback.
I’m a bit old school, coming from the AKAI DD1500, if anyone cares to remember.