Well, I was pessimistic. Just pushed an update that slightly more than doubles the execution speed with a PR to the main depot pending. It is very close to 20 times faster than the original.
PMESS LD A,(HL) ; get character from message
INC HL ; move message pointer to next character
CP 10 ; newline?
RET Z ; return if so
OR A ; zero?
RET Z ; done if so
CALL PCHAR ; print character
JP PMESS ; keep looping
If instead of "RET Z" we had to do a conditional jump to a return it would be 10 cycles for each test instead of 5. CP 10
JP Z,DONE ; 10 cycles, jump taken or not
...
JP PMESS
DONE: RET ; 10 cycles, BTW
The conditional return just happens to be cheaper if not taken because it skips the work of popping the return address off the stack. Though purely an outcome of the implementation you can treat it as sort of a branch prediction.