I plan a project with the LPC1788. It has internal flash (512k) and SRAM 
(64k).
Does anybody knows the access time for flash and for SRAM access? Is 
code executed in flash (XIP) as fast as code that is executed in SRAM?

The code size might exceed the internal RAM size. If XIP is slower than 
run in RAM and the code does not fit in internal SRAM I would have to 
consider external RAM additionaly.

What is your experience?

No experience, but have a look at 
http://www.lpcware.com/content/faq/lpcxpresso/plac....

There can't be a general rule because of the pipeline, the individual 
code executed and so on.
In the UM there is some information about clockrate, waitstates and so 
on.

The LPCOpen forum is the right place to go on.