Dart

Just written as specced. If there's any underlying trick, I missed it totally.

9ms * 35 LOC ~= 0.35, so it'll do.

int decode(String s) => s.codeUnits.fold(0, (s, t) => ((s + t) * 17) % 256);

part1(List lines) => lines.first.split(',').map(decode).sum;

part2(List lines) {
  var rules = lines.first.split(',').map((e) {
    if (e.contains('-')) return ('-', e.skipLast(1), 0);
    var parts = e.split('=');
    return ('=', parts.first, int.parse(parts.last));
  });
  var boxes = Map.fromEntries(List.generate(256, (ix) => MapEntry(ix, [])));
  for (var r in rules) {
    if (r.$1 == '-') {
      boxes[decode(r.$2)]!.removeWhere((l) => l.$1 == r.$2);
    } else {
      var box = boxes[decode(r.$2)]!;
      var lens = box.indexed().firstWhereOrNull((e) => e.value.$1 == r.$2);
      var newlens = (r.$2, r.$3);
      (lens == null) ? box.add(newlens) : box[lens.index] = newlens;
    }
  }
  return boxes.entries
      .map((b) =>
          (b.key + 1) *
          b.value.indexed().map((e) => (e.index + 1) * e.value.$2).sum)
      .sum;
}