Ideally OR should be faster in this case because for every n steps, if it already found a=1 then it will not test second condition. Also there is no inverse operator (NOT) involved.
However for AND to be true, SQL has to test both the conditions, so for every n steps there are 2n conditions evaluated where else in OR, the number of conditions evaluated will always be less then 2n. Plus it has an additional operator to be evaluated.
However if one of the a or b is indexed, the query execution plan may differ because indexed column comparison involves intersect and union join operations over individual compare result sets !!
Also it would be wrong to consider OR as slow operator, when you consider your complex queries with joins over multiple tables, that time OR could be a big problem as mentioned by other contributor in this question. But for smaller query, OR should be fine. Infact every query has its own challenges, it not only depends on whats documented on help file, but also depends on how your data is distributed, its repeatation and variance factor.