I did a little research on square ground chain and this is what I learned:
1) Full Chisel (round) cuts about 10-15% faster than semi chisel, and square ground cuts about 10-15% faster than full chisel.
2) In less than ideal conditions (dirty wood, etc) it will dull faster than round ground, just as full chisel will dull faster than semi chisel.
3) I believe there are two reasons it cuts faster, the geometry is a little better, and the cutting angles are at about 45 degrees (instead of 30). This is also why it is more vulnerable to dirt, etc. Also the Top Plate angle is 15-20 degrees, compared to 30 on full chisel and 10 on rip chains.
4) The main reason it is less popular is because it is far more difficult to sharpen properly, and there are additional steps required, such as Gullet Maintenance.
I highly recommend anyone considering square ground to view the "Madson's Shop & Supply Inc." instructions for sharpening square ground chains, and make sure to pop up "Sharpening Angles of Square Ground Saw Chain" and "Chain Gullets Explained". These things will really help you to understand what is going on.
Of course competition chains will have different angles, but I'm interested in an everyday cutting chain. After using full chisel I never went back to semi chisel, and if I can get this sharpening thing down right, I may be going to square cut, but will likely keep a round cut available for backup for quit a while.