Erin Stellato has an experiment for us:
Borrowing and adapting code from a previous post, Examining the Performance Impact of an Adhoc Workload, we will first create two stored procedures. The first, dbo.RandomSelects, generates and executes an ad hoc statement, and the second, dbo.SPRandomSelects, generates and executes a parameterized query.
Erin then shows how to review query stats and group together executions which are the same save for a change in literals. Read the whole thing.