With modern hardware, what is the fastest way to draw an image with a "bitmask", i.e., a mask that specifies whether a given pixel will be drawn or not (this could be extracted from "magic pink" pixels, for example) using OpenGL?
Should I just use alpha blending and set invisible pixels to a=0? Should I use the old "AND black/white mask then OR image on black bg" technique? Should I use the alpha pass test? Should I use a shader?
This matters because I'm planning on drawing massive quantities of such images - as much as I can afford to.