I concur with Tony Toews (and you should trust him on this, he's an Access guru): use SSMA to help you move data to SQL Server, it does a more complete job than the upsizing Wizard integrated in Access (which doesn't work for upsizing to SQL Server 2008 anyway).
You have to be wary of a few caveat though; I've made a blog post about some of the things you should check out.
The point is that if the original Access database was designed without relying too much on the liberties that Access allows (strange characters in table and column names for instance), then the process will be much easier.
Pay special attention to all the warning and errors reported by SSMA, they are really useful in helping you focus on the issues you must solve.
With regards to performance, moving to SQL Server isn't necessarily going to make things faster.
In some areas it will actually be slower, sometimes much much slower:
Access is pretty good at optimizing certain forms of data access but once the database moves outside of its reach, it doesn't have as much control.
Most things will work fine though.
You will probably have to rewrite a few queries, maybe move them as views on SQL Server instead of keeping them in your Access application.
Little things such as using %
instead of *
as wildchars in queries using LIKE
in their WHERE
clause can also cause strange issues like queries not returning any records.
By the way, I'll post a very good resource Tony has on his own website regarding SQL upsizing: My random thoughts on SQL Server Upsizing from Microsoft Access.
There is also a good and detailed read about things to consider when using SQL Server from Access: Optimizing Microsoft Office Access Applications Linked to SQL Server