With Summer'14 External Organization-Wide Defaults enable you to set a different default access level for external users. Previously, if your organization wanted Public Read Only or Public Read/Write access for internal users but Private for external users, you would have to set the default access to Private and create a sharing rule to share records with all internal users.
With separate organization-wide defaults, you can achieve similar behavior by setting the default internal access to Public Read Only or Public Read/Write and the default external access to Private. These settings also speed up performance for reports, list views, searches, and API queries.
External organization-wide defaults simplify your sharing rules configuration and improve recalculation performance. Furthermore, they reduce overhead of sharing checks for search and reports, and improves sharing maintenance around realignments.
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