I think there's some errors in your test:
Code:
  var %nums = $genrandnums($rand(1,50))
  ;now %nums should be a comma-separated list of 1 to 50 random numbers
  ...
  .echo -q $jerk_min(%nums)
  ;will retrun the same list, since there is only one token when using 32 for C
  ...
  .echo -q $code_min(%nums)
  ;will also retrun the same list, because %nums is now passed as $1

  $genrandnums won't work either, because it's calling $rand instead of $negrand, so it returns $str($chr(44),$rand(1,$1)).


I made this test:
Code:
alias jerk_min {
  tokenize 44 $1-
  return $gettok($sorttok($1-,32,n),1,32) 
}

alias code_min {  
  tokenize 44 $1-
  var %m = $1, %i = $0  
  while (%i > 1) {  
    if ($eval($ $+ %i,2) < %m) %m = $ifmatch
    dec %i  
  }  
  return %m
}

alias bench {
  var %i = 0
  var %jerk_ticks = 0
  var %code_ticks = 0
  hmake nums %1
  while (%i < $1) {
    hadd nums %i $genrandnums($rand(1,50))
    inc %i
  }
  var %i = 0
  var %start = $ticks
  while (%i < $1) {
    .echo -q $jerk_min($hget(nums,%i))
    inc %i
  }
  var %end = $ticks
  %jerk_ticks = $calc(%jerk_ticks + (%end - %start))

  var %start = $ticks
  var %i = 0
  while (%i < $1) {
    .echo -q $code_min($hget(nums,%i))
    inc %i
  }
  var %end = $ticks
  %code_ticks = $calc(%code_ticks + (%end - %start))
  inc %i

  .echo -a jerk_min took %jerk_ticks ticks
  .echo -a code_min took %code_ticks ticks
  hfree nums
}

;picks $1 random numbers
alias genrandnums {
  var %i = $1
  var %nums
  while (%i) {
    set %nums %nums $+ $negrand(-4294967295,4294967295) $+ $chr(44)
    dec %i
  }
  return $left(%nums,-1)
}

;$rand doesn't like negative numbers, so here is one that does
alias negrand {
  if ($1 > -1 && $2 > -1) return $rand($1,$2)
  if ($1 < 0 && $2 < 0) return - $+ $rand($abs($1),$abs($2))
  else {
    var %hi = $calc($abs($1) + $abs($2))
    var %lo = $iif($1 < $2,$1,$2)
    return $calc($rand(0,%hi) + %lo)
  }
}

Added tokenize to both aliases so they both work in this test and are slowed down equally.
I don't know how much influence tokenize, $hget, while, %i and .echo have, but in this test $jerk_min was about 10 times as fast as $code_min:

100x
jerk_min took 190 ticks
code_min took 1750 ticks
1750/190 = 9.210526
jerk_min took 165 ticks
code_min took 1725 ticks
1725/165 = 10.454545
jerk_min took 155 ticks
code_min took 1696 ticks
1696/155 = 10.941935
1000x
jerk_min took 1960 ticks
code_min took 17770 ticks
17770/1960 = 9.066327
jerk_min took 1875 ticks
code_min took 19476 ticks
19476/1875 = 10.3872


(Just found out $sorttok doesn't like negative numbers:
$sorttok(-1 -2 1,32,n) = -1 -2 1
So $jerk_min doesn't work properly for negative numbers, but for positive numbers it's faster)