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It's hard to make definitive statements without more details but in general comparing 126.96.36.199.1 (latest GA release) to 7.0.x.y.z
1. Query performance will be better. For complex queries it may be much better as there have been many optimizer and execution engine improvements.
2. Single threaded DML performance will be ower due to the increased code path of the parallel log manager.
3. Multi-threaded / multi-process DML throughput will be higher and SMP scalability will be much higher due to numerous internal optimizations and the parallel log manager.
But of course you need to test the two releases with your workload on your hardware to see for certain.