This was talking about on the list. What comes into play are speed, aerodynamics and weight. For city, it's probably best to use the soft top. It's weight is minimal compared to no top but it's still aore aerodynamic then no top. With no top, wind is very turbulant and all of this wind does slow you down to some extent. Now a hardtop is more aerodynamic then the soft top but adds a lot of weight to the Jeep.
As speeds increase aerodynamics becomes more important and weight becomes less. At higher speeds the soft top will baloon up. Keep in mind the soft top is 4" taller then the hardtop. Also to some extent the texture of the cloth will grab the air a bit. At higher speeds the pressure increased inside which causes the doors to flap a bit too. So at higher speeds the hardtop is better while the worst being no top. Now if you stripped the interior and removed the spare, seats, carpet, and just about everything else you can think of, you might edge towards the soft top more.
You'll also get some differences from those running a stock jeep compared to those that are lifted. More air under the body will cause drag. Flat fenders will also trap more air at speed. Smaller tire cut through the ir easier then larger ones. Wider flares up front catch the wind more then no flares. Wider rear flares probably help move the air up and over the tire though. What's the difference between the front and rear? Well the front flares are open at the front unlike the rear. This catches the wind. In Europe, the openings at the front are closed off on the TJ. This is done for safety, I believe but also increases the jeeps aerodynamics...