I just learned that you can basically turn a Layer 3 Switch into a router by making the ports Routed Ports. Pretty cool stuff. I was reading this guide http://www.informit.com/library/content.aspx?b=CCIE_Practical_Studies_II&seqNum=14
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More features, more processing ability. A router is preferred but a switch can perform light duty.
A proper router will have a lot more L3 functionality and performance compared to an L3 switch.
Right, but it seems like he's talking about the router having more processing ability (he has that along with more features, which is true of the router, not the switch), which is not true.
You'll find that "routers" really only exist for WAN connectivity these days. For internal routing it's pretty much L3 switches. And yes, L3 switches can be VERY fast.
L3 switches tend to have significantly more processing power... Your router has, what, 2 ports? The switch still has to run L3 features on all 24, 48, or however many ports.
And most advanced routing features aren't even available on L3 switches.