Dynamic Conformal Arc Therapy (DCAT) is an external beam radiation therapy technique in which the cancer target is treated with the gantry head of the medical linear accelerator rotating around the patient while conforming the radiation beam to the target shape at each gantry angle. A modern implementation of DCAT (mDCAT) has recently been released, in which the dose rate can be varied and the beam can be modulated moderately. In this study, mDCAT was characterized, and its potential advantages over the most commonly used treatment techniques, namely 3DCRT and VMAT, were evaluated in terms of efficiency, quality, and robustness. Results show that plan optimization with mDCAT is two to three times more efficient than VMAT. mDCAT plan quality is midway between 3DCRT and VMAT for large targets, and is very comparable to VMAT for small targets. mDCAT and VMAT are equally robust against typical machine and patient uncertainties.