According to NI

Performing a Batch re-save will correct the file paths of the samples for all KONTAKT Instruments within a Library. 

There is no mention of it otherwise altering your libraries.
 
From my experience in the past, before I knew of Batch Re-save, I found that adding library paths to Kontakt's database usually resolved file missing errors.  Assuming my recollection is accurate - that would indicate that if Kontact can't find a sample that it searches it's database; therefore having the correct path in the library would speed up loading.
 
FWIW here's an article from NI:
How Can I Optimize the Performance of KONTAKT 5?
 
My issues with Kontact performance...
I have 24gig of RAM but it does not feel like Kontact is taking advantage of it.
With some MIDI tracks and some libraries the voice stealing is really obvious when there is ample RAM still available. 
I end up having to split the MIDI between tracks and use different instances of Kontact.
 
In regards to Kontact's database - Kontact mentions that having a high number of items in database will increase the memory footprint of Kontact and reduce the available memory for instruments.
No mention in NI's opimization guide about that.  I am wondering if pruning the database would improve things.
TBH I'm not sure what function the database even serves if all your samples are correctly mapped.
 

Vastman

The Kiosk Project
I have always used Service Center for all my NI updates - by 'Native Access' do you mean finding and installing the update from my NI account on their website from a browser? Not near my DAW right now to investigate.

Native Access is the new download manager from NI...Generally, msorrals problems not withstanding, it has been well received and to me it is far superior to the old Service Center.  I'd recommend downloading it and use it going forward... I routinely had issues with the SC and NA has been a pleasure to use for me and many out there.
 

 Thanks for the information Fastman, appreciated, and prevented me going off on a wild goose chase.

Fastman!

Fleer
Fastman!

Fastman / Vastman...ah, adjacent rows on the keyboard !
 

He'll love it !

Update on my Embertone Dulcimer loading issue. I moved the library to a small (40GB) partition on the SSD drive and it loads in no time. Previously it was on the 1TB cached hard drive. I am happy to get it working properly but I do wonder what the issue could have been. I hope its not hardware related.