Do not expect this use of Apply to reduce the number of calculations the optimizer puts in the plan. It might, but it often does not.

However, those computations are incredibly cheap in relation to the other things SQL Server has to do when performing a query, so I would not worry about it.

The main benefits of using Apply for this are increased simplicity of the query and easier future maintenance. And that's worth a billion times more than the tiny millisecond performance difference that this might or might not have.