When *not* to use prepared statements?

I'm re-engineering a PHP-driven web site which uses a minimal database. The original version used "pseudo-prepared-statements" (PHP functions which did quoting and parameter replacement) to prevent injection attacks and to separate database logic from page logic.

It seemed natural to replace these ad-hoc functions with an object which uses PDO and real prepared statements, but after doing my reading on them, I'm not so sure. PDO still seems like a great idea, but one of the primary selling points of prepared statements is being able to reuse them… which I never will. Here's my setup:

• The statements are all trivially simple. Most are in the form SELECT foo,bar FROM baz WHERE quux = ? ORDER BY bar LIMIT 1. The most complex statement in the lot is simply three such selects joined together with UNION ALLs.
• Each page hit executes at most one statement and executes it only once.
• I'm in a hosted environment and therefore leery of slamming their servers by doing any "stress tests" personally.

Given that using prepared statements will, at minimum, double the number of database round-trips I'm making, am I better off avoiding them? Can I use PDO::MYSQL_ATTR_DIRECT_QUERY to avoid the overhead of multiple database trips while retaining the benefit of parametrization and injection defense? Or do the binary calls used by the prepared statement API perform well enough compared to executing non-prepared queries that I shouldn't worry about it?

I think you want PDO::ATTR_EMULATE_PREPARES. That turns off native database prepared statements, but still allows query bindings to prevent sql injection and keep your sql tidy. From what I understand, PDO::MYSQL_ATTR_DIRECT_QUERY turns off query bindings completely.