Comment by vladich

There are reasons for that, it's useful in a very narrow set of situations. Postgres cached plans exist for the same reason. If you're claiming Oracle and MSSQL do _much_ better in this area - that's what I call unsubstantiated. From what you write further it's pretty clear you don't have a lot of understanding what happens under the hood. And no, prepared statements are not what you read in Wikipedia. Not in all databases anyway. Go read it somewhere else.