This protocol yields 1 to 100 transformants per g of DNA, tested on DNA fragments only so far, not episomes.
Efficiencies depend heavily on the activity of the target gene.
That is to say that the more active the gene the better the transformation. For instance, if you were transforming a maltase promoter-drived gene cut in that promoter into C. albicans , you might want to grow the target cells in maltose. Candida can be grown to higher O.D. than S. cerevisiae for successful transformation. In fact, the OD 3.0 upper boundary is very approximate. Back-dilutions are OK so long as the source culture has not grown past the 3.0 point.