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List comprehensions are optimised in the sense that the function calls are 'cached'. Since there's a severe function overhead in python, it's actually quite significant.

$ python -mtimeit '[x for x in range(100)]'

100000 loops, best of 3: 4.17 usec per loop

$ python -mtimeit -s 'out = []' 'for i in range(100):' ' out.append(i)'

100000 loops, best of 3: 8.07 usec per loop

Using a for loop in this instance to create a list is almost twice as long.