Will baking the stack help with performance?

It could, but I don't recommend baking the stack just for performance. To improve performance I recommend reducing the amount of details displayed in the viewport. For example, you could reduce the amount of strand points shown in the viewport using the Detail modifier, keeping a high density for rendering and low density for the viewport. The same applies for Hair from Guides.

I recommend baking the stack to reduce complexity or remove unnecessary computations. Baking some specific modifiers(not the whole stack) will reduce compute time, however is up to you which modifiers you want to bake and you will make the decision in a case by case basis. I may give you some suggestions if you attach a screenshot of the hair stack. 

Jeordanis Figuereo (Product Designer. EPHERE Inc.)