Why does all this matter?

Statically typed languages will have better performance at run-time, because the knowledge of types and the confidence that everything has been checked, allows for optimisations that simply aren't possible with dynamically typed languages.

Dynamically typed languages don't have to go through the overhead of checking everything prior to run-time, so it's quicker to go from writing/editing the source code to running the application. Like interpreted languages vs compiled languages, this could save you a significant amount of time.

To summarise:

• Compiled & Statically typed languages - larger overhead to go from writing your source code to running it, but faster at run-time. Different executables for different architectures.
• Interpreted & Dynamically typed languages - much quicker to get your application running from the source code, but slower at run-time. Run the same code for all architectures.