Megh, "performance" is very subjective. Load up some bloated Gnome Linux distro and your system will crawl. For my daily tasks FreeBSD is perfectly capable and "fast". Switching between Gentoo, Debian and FreeBSD all running XFCE I notice no real-life differences. Anyways, that was my opinion.
"Missing features". For what I do with it isn't missing much. Sure it would be nice if Oracle and other vendors supported it and I really don't understand why more commercial vendors don't support it. It's a much easier target to hit. There is a reason the RedHat's of the world don't change kernel versions very often and make their own patches or back-port patches which IMHO is just causing major fragmentation.
I said it's better for me and I'm happy with it. Ultimate performance isn't my goal and isn't the goal of most enterprise users. It's for the most part a very stable system.
I'm not saying FreeBSD doesn't have issues. A smaller supported hardware pool being a major one, but for the devices it supports it normally just works.