There probably aren't any clear answers for people to give.
According to my understanding, wine works basically as a wrapper around your program that translates system calls between the Windows API and Linux API. How well it performs depends almost entirely on what specific API calls the program you're running needs, and how well the wine project has reproduced them. So some programs will work perfectly, some will work only partially, and some not at all. A small percentage can even work better than on Windows.
As for the footprint, well the wineserver daemon needs to be loaded, which does the active translating, so there is some overhead. On the other hand, the wine environment doesn't need to be as heavy as a full Windows installation, and some of the wine DLLs are more efficient than the originals, so it could go either way. Again, it depends on the program.
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