Right, I've done some testing on open space. All testing was done with modded (nosleep/drink/eat, speed 0) dwarves digging out areas of white sand, in full screen, with as little as possible running in the background.
Results:
initial FPS: 2000
FPS whilst digging out a small area (600 ish tiles): 50
FPS after digging out said small area: 1500
FPS whilst digging out a larger area (maybe 1500 tiles or so): 5
FPS after digging out said larger area: 1500
NOTE: at this point, several things happened:
1) First hardcoded migrant wave arrived and a ghost appeared
2) I finally remembered to turn weather etc. off
FPS after above changes: 2600
FPS whilst digging out another small area: 3
FPS after digging out said small area: 2300 (NOTE: unreliable, as I was only able to observe for a short time due to another migrant wave and a caravan arriving. After the caravan left, FPS was down at 2100)
FPS whilst digging out 7 tiles: 5
FPS whilst digging out another small area: 20
FPS after digging out said small area: 2100
FPS with an entire inaccessible z level designated: 1950
FPS after undesignating said inaccessible z level: 2050
NOTE: At this point, two migrant waves arrived, half the fortress got married, a child was born the elven caravan arrived and two ghosts appeared.
FPS after above note: 1000
NOTE: the above changed by +/- 100 points with seasonal variations, away from autosaves
FPS whilst digging out another large area: 2
FPS after digging out said large area: 900
FPS after digging out another small area and a really annoying migrant wave: 730
FPS after digging out another small area, a really annoying dwarven caravan (still present) and three really annoying births: 600
FPS after caravan left and digging out another small area: 600
FPS after digging out another small area: 600
At this point, I decided to test whether open space and floored space had the same effects, so I started channelling out all of the areas I'd previously dug out.
FPS after collapsing first area (two deaths, one birth, one lightly mangled baby, two lightly injured miners): 420
FPS after collapsing second area (one light injury, one birth): 380
FPS after collapsing ridiculously massvie area: 300
FPS after digging out another small area: 280
FPS after channelling that area out the slow way:230
Conclusions:
Empty space slows stuff up.
The accessibility of space has no noticeable effect.
Channelled out space is actually worse than floored over space.
Designating things does slow stuff down, but nothing like as much as actually having them accessible.
Weather etc. has a significant impact on FPS.
There are significant seasonal variations in FPS.
Caravans still slow things up after leaving the map.