Do each other a favour, set it to "no background processes" and comment afterwards about what you notice in differences. I still receive notifications of any app when it's set to "no background processes". In fact, it gives you the option to use the system cache for background apps, or completely not, or a maximum like 1,2,3,4. It won't exit apps or services completely.
I think, setting this to "no background processes" is a good idea if you have a cheap smartphone with low or mid-end hardware, just because some of them are just better off without anything in cache.
The UI and switching apps will be noticeably faster, because RAM and CPU power will not be allocated to these cached background activities, resulting in more performance in general.
