ASP.NET Application state vs a Static object

From: http://support.microsoft.com/default.aspx?scid=kb;en-us;Q312607

ASP.NET includes application state
primarily for compatibility with
classic ASP so that it is easier to
migrate existing applications to
ASP.NET. It is recommended that you
store data in static members of the
application class instead of in the
Application object. This increases
performance because you can access a
static variable faster than you can
access an item in the Application
dictionary.

Also, yes, static variables behave the same way regardless of where they are loaded from, and exist exactly once per app domain (unless you’re talking about those labeled [ThreadStatic])

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