EDIT 9-3-10: I found this blog entry recently that was very enlightening. http://optimizermagic.blogspot.com/2007/12/outerjoins-in-oracle.html
There are times when one or the other join syntax may in fact perform better. I have also found times when a have noticed a slight performance increase (only noticeable in VLDBs) when choosing the Oracle join syntax over the ANSI one. Probably not enough to get fussy over, but for those serious about mastering the Oracle DB, it may be helpful to review the article.
I am aware of two outer join syntaxes for Oracle:
select a, b
from table1
left outer join table2
on table2.foo = table1.foo
OR
select a, b
from table1, table2
where table2.foo(+) = table1.foo
(assuming I got the syntax of the second sample right.)
Is there a performance difference between these? At first I thought it must just be a style preference on the part of the developer, but then I read something that made me think maybe there would be a reason to use one style instead of the other.