Combustion engine is still more efficient (unless there's some recent nerf I haven't heard about). Combustion engine burns a bucket of fuel for 100000 ticks and produces 3 times as much power as a Hobbyist Steam Engine. In general, smaller liquid fuelled boilers are less efficient than the combustion engine.
On the other hand, a small boiler connected to a steam turbine is probably more efficient than EU-producing items which consume fuel (which tend to be rather inefficient compared to fuel consumers that produce MJ or steam). But then you're building a full turbine so that drives the cost way up to the point that by the time you can afford to use that much steel you are using enough power to warrant a big boiler.
Although, considering you're just powering a Multi Farm, which probably uses less than 6 MJ/t on average, the boiler might be reasonable, since you don't have to set up gates or anything to control it.
Basically, small liquid-fuelled boilers are useless unless you only need a couple MJ/t (as in your case), you are burning creosote oil (which isn't really a good primary source of fuel) or you don't have Buildcraft (limiting your options to ethanol from Forestry or biofuel from MFR).
Small solid-fuelled boilers are pretty good, though, as they use coal/charcoal much more efficiently than the stirling engine or TE's steam engine.