You are on the right track. But looking for the most efficient way to pump water I can't believe someone hasn't tried to convince you that just adding a VFD will save 50% in energy. Lol! I don't know how many times I have heard it. But you are exactly right that there is no more efficient way to pump water than by working at the pumps BEP or Best Efficiency Point, which also means full speed. So, adding a VFD will always cause more energy use per gallon produced and I am amazed at how many people think the opposite.
You are also correct that there is no more efficient way than controlling the pump with a regular pressure tank and pressure switch. In this way the pump is either running at BEP or it is off and not using any power. However, there are still many good reasons to use a Cycle Stop Valve and ways to make it as efficient as using a pressure tank only. Offsetting the 6-9 times inrush current with each start is just one of many.
I will attach a curve from a 5HP, 25 GPM pump. You can see this pump is most efficient (62%) at 25 GPM. But you can also see that the horsepower drops from 5.5HP at 25 GPM to as little as 1.5HP at zero flow, even though the pump is running at full speed. The CSV3A2T Cycle Stop Valve cannot close to less than 5 GPM no matter what, as this size pump needs at least 2 GPM for proper cooling. At the 5 GPM minimum flow the pump is still 38% efficient and the horsepower has dropped from 5.5HP to 2.5HP with the simple restriction of the Cycle Stop Valve. It is hard to wrap ones head around the physics because the amps dropping and the motor working easier as the pressure increases is counter intuitive. But that is the way a centrifugal impeller works and always has.
Having said all that you can see that it doesn't matter so much how the pump is controlled, but the flow rate being used that determines the efficiency of the pump. Therefore, even when using a CSV, keeping the irrigation zones or whatever is being used as close to BEP or 25 GPM will be the most efficient. The Devil is always in the details. So, how much of the time the pump will be working within 20% of BEP and how much of the time at other flow rates is important. If say 80% of the zones are close to BEP, you may not notice any increase in energy consumption for the short times the pump is running at lower flow rates. But if 80% of the time the pump will be operated at low flow rates, it will cost more per gallon to pump the water.
There are also other things to consider. The size of the pressure tank needed to reduce cycling to maximum factory standards can be expensive. A 5HP is only allowed 100 cycles per day, and that is to make it last just barely past any warranty date. As a matter of fact the number of cycles allowed and how a pump/motor is built makes pumps last an average of 7 years by design. The fewer times a pump cycles the longer it will last. Submersible pumps with Kingsbury type thrust bearings are completely frictionless when up and running. Similar to a gas engine there is friction until the pump gets up to speed and the lubricant/coolant starts flowing. I have a pump in a stock well that hasn't shut off since it was installed in 1999. I also know of other pumps that run continuously that have lasted longer than the 23 years that pump has lasted me so far. I expect to get another 23 years of use and I may not even be alive to see how long it lasted.
It takes a lot of energy to mine, manufacture, transport, and install a pump. It is hard to quantify energy used, so lets figure costs. Not considering inflation, lets say that pump cost $5K and has to be replaced 3 times in 21 years. With an extra thousand bucks for a larger pressure tank and 15K worth of pumps, you will have spent 16K in 21 years more than if using a Cycle Stop Valve and having a pump last 2-3 decades. The question now becomes, will adding $761.00 per year to equipment costs be offset by the efficiency of the system?
Starting a pump against an almost closed valve as with a CSV, is the best way to start a pump. The mechanical soft start and soft stop created by the CSV, along with the elimination of repetitive cycling and other things makes everything from the pump and check valve to the pressure tank and switch last longer.
It is also an easy thing to test. The CSV uses the same pressure tank/pressure switch type system. Simply run a month or two with the CSV and then tighten the adjustment bolt on the CSV a couple turns, which will disable it. If after running another month or two without the CSV you are not convinced the CSV is superior, I will take it back and refund your money. Been offering for 30 years and no one has ever sent one back.