If you add enough items that you're effectively building the list from scratch, you should be able to get better performance by sorting the list afterwards.
If items are mostly in order, you can tweak both incremental update and regular sorting to take advantage of that, but frankly, it usually isn't worth the trouble. (You also need to be careful of things like making sure some unexpected ordering can't make your algorithm take much longer, q.v. naive quicksort)
Both incremental update and regular list sort are O(N log N) but you can get a better constant factor sorting everything afterward (I'm assuming here that you've got some auxiliary datastructure so your incremental update can access list items faster than O(N)...). Generally speaking, sorting all at once has a lot more design freedom than maintaining the ordering incrementally, since incremental update has to maintain a complete order at all times, but an all-at-once bulk sort does not.
If nothing else, remember that there are lots of highly-optimized bulk sorts available.
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