Combined with something Microsoft calls "import optimization", the performance impact should drop to a level that's negligible for most workloads:
Yes, we have enabled retpoline by default in our 19H1 flights along with what we call "import optimization" to further reduce perf impact due to indirect calls in kernel-mode. Combined, these reduce the perf impact of Spectre v2 mitigations to noise-level for most scenarios. https://t.co/CPlYeryV9K
— Mehmet Iyigun (@mamyun) October 18, 2018
H/T: TPU