On performance front, it is the same old farce and as per usual 'Do Your Own Benchmarking' across OS-es. But, almost a decade old OS for anything GDI still slams Windows7 and plenty of apps will be incredibly more responsive on XP.. Sadness.. especially when you consider that translation of such an old API (as a compatible interface) should be trivial to any new driver or display tech.
Apparently some ops like blitting are supported but look at the result of your target 2D GDI app and judge for yourself..
Here are some observations, but please do your own for a dozen scenarios and compare, especially if it is GDI intensive like a million audio/video apps out there (no wonder iFruit boys are gaining share).
http://www.passmark.com/forum/showthread.php?t=2233
And while you will find all the typical and fluffy MSDN blog explanations that get 'technical' (ie. surface-style nonsense) the reason is very simple: buy a new OS, pull the carpet on old API and complicate it further by allowing new APIs to work with it (but not benefit the old one, easily doable by providing a new dll and .lib ).
For one history lesson and how hard it was to translate GDI calls to Direct2D or use libgdiplus from Mono and derive ideas etc, here is the propaganda:
http://blogs.msdn.com/directx/archive/2009/05/12/2d-drawing-apis-in-windows.aspx