miker01, Efficiency's got nothing to do with it, SAFETY does! The figure eight blind has the blind on one side and and an orifice ring on the other. When equipment repair or cleanout is needed the blind portion is rotated into position and the orifice ring rotates to the outside, hence providing positive closure/blockage to the vessel.
Simply because the valve is closed, does not mean that it will stay that way. Furthermore, all valves fall into some leakage category, ANSI class I-VI and as valves get older, leakage paths can and will develop.
As for manu'f's check with the Mac Iron Works in Sandusky Ohio.
Hope this helps.
saxon