diff --git a/cli/CHANGELOG.md b/cli/CHANGELOG.md
index 9e62d583b56c..46fe84b9139a 100644
--- a/cli/CHANGELOG.md
+++ b/cli/CHANGELOG.md
@@ -7,6 +7,10 @@ _Released 7/02/2024 (PENDING)_
 
 - Fixed an issue where Chrome launch instances would not recreate the browser CRI client correctly after recovering from an unexpected browser closure. Fixes [#27657](https://github.com/cypress-io/cypress/issues/27657). Fixed in [#29663](https://github.com/cypress-io/cypress/pull/29663).
 
+**Performance:**
+
+- Improved performance of `experimentalSourceRewriting` option. Fixed in [#29540](https://github.com/cypress-io/cypress/pull/29540).
+
 **Bugfixes:**
 
 - Fixed an issue where Firefox 129 (Firefox Nightly) would not launch with Cypress. Fixes [#29713](https://github.com/cypress-io/cypress/issues/29713). Fixed in [#29720](https://github.com/cypress-io/cypress/pull/29720).
diff --git a/packages/rewriter/lib/js-rules.ts b/packages/rewriter/lib/js-rules.ts
index bc8d05e5fe88..ddd2fb369130 100644
--- a/packages/rewriter/lib/js-rules.ts
+++ b/packages/rewriter/lib/js-rules.ts
@@ -62,6 +62,8 @@ function resolveLocationReference () {
   )
 }
 
+const replaceableProps = ['parent', 'top', 'location']
+
 /**
  * Given an Identifier or a Literal, return a property name that should use `resolveWindowReference`.
  * @param node
@@ -70,12 +72,12 @@ function getReplaceablePropOfMemberExpression (node: n.MemberExpression) {
   const { property } = node
 
   // something.(top|parent)
-  if (n.Identifier.check(property) && ['parent', 'top', 'location'].includes(property.name)) {
+  if (n.Identifier.check(property) && replaceableProps.includes(property.name)) {
     return property.name
   }
 
   // something['(top|parent)']
-  if (n.Literal.check(property) && ['parent', 'top', 'location'].includes(String(property.value))) {
+  if (n.Literal.check(property) && replaceableProps.includes(String(property.value))) {
     return String(property.value)
   }
 
@@ -104,6 +106,7 @@ export const jsRules: Visitor<{}> = {
     }
 
     path.replace(resolveWindowReference(path.get('object').node, prop))
+    this.reportChanged()
 
     return false
   },
@@ -120,6 +123,7 @@ export const jsRules: Visitor<{}> = {
       if (isAssignee && node.name === 'location') {
         // `location = 'something'`, rewrite to intercepted href setter since relative urls can break this
         path.replace(b.memberExpression(resolveLocationReference(), b.identifier('href')))
+        this.reportChanged()
 
         return false
       }
@@ -147,40 +151,38 @@ export const jsRules: Visitor<{}> = {
       }
     }
 
-    if (path.scope.declares(node.name)) {
-      // identifier has been declared in local scope, don't care about replacing
+    // identifier has been declared in local scope, don't care about replacing
+    if (!replaceableProps.includes(node.name) || path.scope.declares(node.name)) {
       return this.traverse(path)
     }
 
-    if (node.name === 'location') {
-      path.replace(resolveLocationReference())
-
-      return false
-    }
+    switch (node.name) {
+      case 'location':
+        path.replace(resolveLocationReference())
+        this.reportChanged()
 
-    if (['parent', 'top'].includes(node.name)) {
-      path.replace(resolveWindowReference(globalIdentifier, node.name))
+        return false
+      case 'parent':
+      case 'top':
+        path.replace(resolveWindowReference(globalIdentifier, node.name))
+        this.reportChanged()
 
-      return false
+        return false
+      default:
+        return this.traverse(path)
     }
-
-    this.traverse(path)
   },
   visitAssignmentExpression (path) {
     const { node } = path
 
-    const finish = () => {
-      this.traverse(path)
-    }
-
     if (!n.MemberExpression.check(node.left)) {
-      return finish()
+      return this.traverse(path)
     }
 
     const propBeingSet = getReplaceablePropOfMemberExpression(node.left)
 
     if (!propBeingSet) {
-      return finish()
+      return this.traverse(path)
     }
 
     if (node.operator !== '=') {
@@ -194,6 +196,7 @@ export const jsRules: Visitor<{}> = {
     const objBeingSetOn = node.left.object
 
     path.replace(resolveWindowReference(objBeingSetOn, propBeingSet, node.right))
+    this.reportChanged()
 
     return false
   },
diff --git a/packages/rewriter/lib/js.ts b/packages/rewriter/lib/js.ts
index 3e2cb7c09f08..f32eae4ad70d 100644
--- a/packages/rewriter/lib/js.ts
+++ b/packages/rewriter/lib/js.ts
@@ -32,7 +32,13 @@ export function rewriteJsSourceMap (url: string, js: string, inputSourceMap: any
 
     const ast = recast.parse(js, { sourceFileName })
 
-    astTypes.visit(ast, jsRules)
+    const visitor = astTypes.PathVisitor.fromMethodsObject(jsRules)
+
+    visitor.visit(ast)
+
+    if (!visitor.wasChangeReported() && inputSourceMap) {
+      return inputSourceMap
+    }
 
     return recast.print(ast, {
       inputSourceMap,
@@ -50,18 +56,32 @@ export function rewriteJsSourceMap (url: string, js: string, inputSourceMap: any
 export function _rewriteJsUnsafe (url: string, js: string, deferSourceMapRewrite?: DeferSourceMapRewriteFn): string {
   const ast = recast.parse(js)
 
+  let didRewrite: boolean
+
   try {
-    astTypes.visit(ast, jsRules)
+    const visitor = astTypes.PathVisitor.fromMethodsObject(jsRules)
+
+    visitor.visit(ast)
+
+    didRewrite = visitor.wasChangeReported()
   } catch (err: any) {
     // if visiting fails, it points to a bug in our rewriting logic, so raise the error to the driver
     return _generateDriverError(url, err)
   }
 
-  const { code } = recast.print(ast, defaultPrintOpts)
+  let rewritten: string
+
+  if (didRewrite) {
+    const { code } = recast.print(ast, defaultPrintOpts)
+
+    rewritten = code
+  } else {
+    rewritten = js
+  }
 
   if (!deferSourceMapRewrite) {
     // no sourcemaps
-    return sourceMaps.stripMappingUrl(code)
+    return sourceMaps.stripMappingUrl(rewritten)
   }
 
   // get an ID that can be used to lazy-generate the source map later
@@ -71,7 +91,7 @@ export function _rewriteJsUnsafe (url: string, js: string, deferSourceMapRewrite
     // using a relative URL ensures that required cookies + other headers are sent along
     // and can be reused if the user's sourcemap requires an HTTP request to be made
     `/__cypress/source-maps/${sourceMapId}.map`,
-    code,
+    rewritten,
   )
 }
 
diff --git a/packages/rewriter/test/unit/js-spec.ts b/packages/rewriter/test/unit/js-spec.ts
index 479642d936d7..640fb657cfb4 100644
--- a/packages/rewriter/test/unit/js-spec.ts
+++ b/packages/rewriter/test/unit/js-spec.ts
@@ -164,7 +164,7 @@ describe('js rewriter', function () {
 
         err.stack = 'stack'
 
-        sinon.stub(astTypes, 'visit').throws(err)
+        sinon.stub(astTypes.PathVisitor, 'fromMethodsObject').throws(err)
 
         const actual = _rewriteJsUnsafe(URL, 'console.log()')