No, there are quite a few models which are smaller, more accurate, and faster. For example Parakeet TDT v3 is half the size, way faster, and lower WER. There's also Voxstral, which is much larger but also even more accurate.

But the ecosystem isn't as mature, so Whisper is still a valid option, even now. For example Parakeet uses Nemotron framework (made by Nvdia), normally you need CUDA, so you need to use an ONNX version instead on AMD. Meanwhile Whisper has VLLM and desktop apps like Buzz.

There aren't many benchmarks and they often don't have all the models, since STT doesn't get nearly enough attention as normal LLMs, but this is one of the more complete ones: https://artificialanalysis.ai/speech-to-text/non-streaming

I'm a big fan of Parakeet v3 - I run it using the MacWhisper app, it's a 494MB model and the quality is excellent.

I don't have anything to compare against, since I have just started using it. But I was fairly happy with it on my personal recordings from my phone. Also, I ran it on my CPU (Core i7) and it was perfectly usable, as something to run when not using the machine for anything else.