How to COALESCE for empty strings and NULL values?

I'm trying to make the fastest COALESCE() that accepts two or more arguments, and returns the first non-null AND non-empty ("") value.

I'm using this:

CREATE OR REPLACE FUNCTION coalescenonempty(VARIADIC in_ordered_actual varchar[])
RETURNS varchar AS $$
  SELECT i
  FROM (SELECT unnest($1) AS i) t
  WHERE i IS NOT NULL AND i <> ''
  LIMIT 1;
$$ LANGUAGE sql;

It's pretty fast, but still nowhere as fast as COALESCE or CASE WHEN statements.

What do you think?

Do not create a user function is you want speed. Instead of this:

coalescenonempty(col1,col2||'blah',col3,'none');

do this:

COALESCE(NULLIF(col1,''),NULLIF(col2||'blah',''),NULLIF(col3,''),'none');

That is, for each non-constant parameter, surround the actual parameter with NULLIF( x ,'').