In message <https://marc.info/?l=openbsd-misc&m=177714116632263&w=1>,
Public Netizen asked
> In the man page for tunefs(8) under option "-m minfree" I read:
> 
>   "This value can be set to zero, however up to a factor of three in
>    throughput will be lost over the performance obtained at a 5%
>    threshold."
> 
> Is this for both reads and writes? Is it even still the case? And does
> someone understand why and what's going on?

Take a look at the original 1984 McKusick et al paper "A Fast File System
for Unix" at (e.g.) <https://people.eecs.berkeley.edu/~brewer/cs262/FFS.pdf>.
The last paragraph of section 3.1 reads:
> In order for the layout policies to be effective, a file system cannot be
> kept completely full. For each file system there is a parameter, termed the
> free space reserve, that gives the minimum acceptable percent- age of file
> system blocks that should be free. If the number of free blocks drops below
> this level only the system administrator can continue to allocate blocks.
> The value of this parameter may be changed at any time, even when the file
> system is mounted and active. The transfer rates that appear in section 4
> were measured on file systems kept less than 90% full (a reserve of 10%).
> If the number of free blocks falls to zero, the file system throughput
> tends to be cut in half, because of the inability of the file system to
> localize blocks in a file. If a file system's performance degrades because
> of overfilling, it may be restored by removing files until the amount of
> free space once again reaches the minimum acceptable level. Access rates
> for files created during periods of little free space may be restored by
> moving their data once enough space is available. [[...]]

This makes it clear that the issue is how the filesystem allocates
blocks when writing a new file -- making /minfree/ too small makes it
less likely that newly-allocated files will be contiguous on disk.
Even if today's solid-state disks don't have "seek time", non-contiguous
files still incurr increased overhead at ever layer of the I/O stack.

-- 
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   (he/him; currently on the west coast of Canada)
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             -- reply from /ArsTechnica/ commenter "GFKBill", also 2025-10-17

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