If you recall the previous post on instantiating static fields , there seems to have been a flurry of activity at Microsoft. As Peter Hallam writes , it made sense to improve the perf. for the static field initialisers and this you should see in Beta2 of Whidbey. The main issue here as Peter explains is if you have a field initialiser for a static field, which initialises the static field to its default value, you still get a static constructor, or .cctor in CLR speak) which is a significant performance penalty. So this begs the question, why did we not add this optimisation for static fields?
There is a subtle difference between instance field initialisers and static field initialisers. When an instance field initialiser begins execution the value of the field being initialised is guaranteed to be the default value. This is a result of 2 things - instance field initialisers run as the first thing after the object is allocated, even before the call to your base class constructor, and during an instance field initialiser, you cannot reference other instance fields of the object being created. This guarantee, that a field’s value is the default before the initialiser is run, does not hold for static fields. This is illustrated by this nasty example:
More Information: http://blogs.msdn.com/peterhal/archive/2004/10/06.aspx