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Victor,
I've done some additional testing. Here's a test that Joshua wrote for the code review: https://gist.github.com/1st1/b38ac6785cb01a679722
It appears that single loop approach works a bit faster for smaller collections of tasks. On a list of 10000 tasks it's on average faster 2-3%, on a list of 1000000 tasks it's slower for 2-3%.
I'm not sure what's the average number of tasks for an "average" asyncio application, but something tells me it's not going to be in range of millions. I think you can fix the code to have a single loop.