Does unity automatically batch like materials? For example, I have a bunch of Bumped Specular materials where the only difference is the "main color" swatch which is being used to recolor a diffuse map. Will unity batch these?
Hmm, I personally have no idea, and not super techy as it gets to game engines. But were the case for it not to be so, then reckon a single material with (I'd assume less draw calls) vertex-paint controlling the diffuse colour save performance per chance?
Here they go into a few things mentioned above, such as using a single material, affected by vertex colors, in order to allow everything to batch together.
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If you had the colour set at a vertex level, it'd batch because you'd only need one material for all of 'em.
http://www.paladinstudios.com/2012/07/30/4-ways-to-increase-performance-of-your-unity-game/
Here they go into a few things mentioned above, such as using a single material, affected by vertex colors, in order to allow everything to batch together.