SQL Express, which comes with Visual Studio, only supports up to 4GB of data, 1GB of RAM, and 1 CPU. It also doesn't include Analysis Services or Integration Services.
However, you can download SQL Server Management Studio (SSMS), which is the "console" you asked for, as a free add-on for SQL Express. You can also download Reporting Services, if you need it.
See:
http://www.microsoft.com/downloads/details.aspx?familyid=08E52AC2-1D62-45F6-9A4A-4B76A8564A2B&displaylang=en
http://www.microsoft.com/downloads/details.aspx?familyid=7522A683-4CB2-454E-B908-E805E9BD4E28&displaylang=en
Otherwise, the relational engine itself is basically identical to the one used in SQL Standard (there are a few additional minor differences). SQL Express is not throttled from a performance perspective.