You are not likely to see a significant performance difference due to the cached execution plans for SPs, as execution plans are also cached in SQL Server 2005 and up even for ad hoc SQL.
In the case where parameter sniffing can adversely affect performance due to erroneous cardinality estimates for certain values of parameters, you can use WITH RECOMPILE indicators.
The benefits of views and stored procedures are going to be in the areas of security and maintenance, where the benefits are probably too numerous to exhaustively cover here but include abilities to:
Restrict protected data from being read from SELECT statements without having to assign individual column permissions on underlying tables.
Re-use parameterized SPs from other SQL code and multiple places within the application.
Instrument, log, profile and tune the application SPs as named database interface components of your system without affecting or re-deploying the application code.
Refactor the database without affecting or re-deploying the application code.
Provide an abstraction layer and interface contract with the database which gives good visibility into the database services required and provided by the system, which may include the possibility of automatic generation of metadata about the interface, a separate layer which can have automatic tests, and which can also be used as a point of demarcation for backend portability.