Ab,
Are you interested in memory allocation since you plan on working with large arrays, or just want to be efficient?

In any case both the Build Array and Insert into Array functions will allocate extra memory since they are creating a new array. The most efficient method should be to allocate a three column 2-D array and replace a column of with your 1-D instead of building.
There is a tool that will give you some guildlines when there is memory being allocated. If you select Tools >> Advanced >> Show Buffer Allocations... (Tools >> Profile >> Show Buffer Allocations for LabVIEW 8), the buffer allocation is shown by little black dots. If you would like some help about this function there is some very good documentation in the help file.
Hope this helps!
Andy F.
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National Instruments