I have my main machine here that is running SP1, a few dual Xeons running SP2, and a dual-core Intel 840 running SP2.
Even given the fact that they all (currently) have different purposes, I can tell no difference in performance.
Is there something in particular I should be looking for?
"Windows XP SP1 SP2 Performance"
The gamers clealy recommend *against* SP2. the first one that hits in groups.google.com has five fairly complicated things that were necessary to erase the SP2 performance penalty over SP1...
of course, if you type the same string into the M$ search engine these delusional anti-M$ posts claiming slower performance probably won't show up. i don't dare try it since the eveel eye in redmond may notice me!
The reason gamers would dislike SP2 would be related to the firewall, and possibly some security software.
Firewalls slow down network traffic -- not enough for internet browsers to notice, but not having one might give you an edge in a networked game.