ROUND VS CONVERT FUNCTION
I really wonder if you got a solid business case for worrying about performance issues in rounding. Unless you are doing thousands of conversions per second, this really is non-issue.

The standard approach is to measure the performance differences. First you got to make sure that your ROUND() and CONVERT() actually do the same thing. Are you sure about that? After you are comfortable with the idea that both algorithms return same result, run your test cases.

On my test system, looping the round/convert 10 million times each, measuring the duration in milliseconds and running the test set five times provides results as such:

convert     round       delta
----------- ----------- -----------
7883        7546        337
7770        7510        260
7733        7563        170
7750        7466        284
7780        7513        267


By this test, it looks like ROUND() performs slightly better on my system. Your mileage is quite likely to vary. For ten million iterations, ROUND() saves on the average 250 milliseconds. That is, ROUND() performs some 250 nanoseconds faster than CONVERT(). I highly doubt if this is relevant to most real-world issues - unless one is developing something like high-frequency trading algorithm or the like.