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I have a .NET 3.5 WinForms project that uses several 3rd party controls and a couple of home-grown components that are compiled for the 1.1 framework.

Is there a performance hit for using 1.1 components?

+3  A: 

No because the version 1.1 of the framework should run just fine on the CLR Runtime that came with 2.0. Unless you are doing something odd, your application is running in only one AppDomain which is probably 2.0, so everything in that AppDomain should be running on 2.0, including your 1.1 libraries.

The .NET 3.5 framework is an extension of the 2.0 framework. So when I say 2.0, 3.0 and 3.5 are included in that.

So you are totally fine from a runtime perspective. Not knowing more about the libraries, you could be using outdated API's that have been improved in the new framework, but that is the only place you might experience a problem

Nick Berardi