Modern browsers expose a very efficient getElementsByClassName() method that returns the elements having a given class. That’s why a single class selector is faster in your case.
To elaborate on your examples:
$(".txtClass") => getElementsByClassName()
$("#childDiv2 .txtClass") => getElementById(),
then getElementsByClassName()
$("#childDiv2 > .txtClass") => getElementById(),
then iterate over children and check class
$("input.txtClass") => getElementsByTagName(),
then iterate over results and check class
$("#childDiv2 input.txtClass") => getElementById(),
then getElementsByTagName(),
then iterate over results and check class
As you can see, it’s quite logical for the first form to be the fastest on modern browsers.