I went from an elaborate multi-tier caching setup, with varnish and memcache, to a ZERO caching setup. The amount of complexity reduced by doing this is huge.
The Elixir app hits the postgres db for nearly every request and I'm getting average response times around 45ms. Quite a bit of that is database wait time. It's super stable and efficient. And I'm running it on a dirt cheap, tiny node in the cloud, where before I needed two small EC2 instances to keep up with peak loads.
Also, now that I've gotten the hang of it I think it's actually more efficient with regards to development than either Django or Rails.
Here are the google crawler response times directly before/after the switch to Phoenix: http://imgur.com/a/FASyJ