If you're going to be doing it yourself, mandrel bent pipe will be a lot easier to use. This is because the diameter of the pipe stays consistent through the entire bend. You may find you need to cut a bend and then rotate one part and weld it back together. If it's not mandrel, it will be hard to line it up without big gaps. Same problem if you cut part way into a bend and try to weld on a straight piece. The mandrel just gives you a lot more freedom.
As far as HP gains, I don't know how big a deal it is. I think the theory would be 2.5" mandrel bent is true 2.5" but the same pipe done with the cheaper bend style is more like a 2.25" diameter through that bend. At least that's how I feel about it.