Honestly, using BD Free, I haven't noticed any major differences in web browsing with all the modules enabled. So, in my opinion, web protection should be left enabled. Of course, everyone has their own experience.
I'd read in other forums a while ago that even Kaspersky's encrypted web protection slowed down web page loading, and in other forums, including the official Avast forum, Avast Free also slowed down web page loading. So, while increased controls and filtering could certainly slow down the performance, in my opinion they aren't noticeable enough to require disabling an important protection module. Web browsing is the primary vehicle and channel through which Windows PCs can be infected.
Windows Defender doesn't have this type of protection unless you're using EDGE with Smart Screen, so this in itself is a disadvantage if you're using another browser. Panda Dome Free doesn't have a web protection module, which certainly makes it weaker in this regard.
So I would keep BD Free with all the protection modules active and as an alternative at most I would use BD Traffic Light which I already use on my Linux laptops.