Performance mode probably means having higher voltages or higher "optimized" settings to run the system. Fail safe mode already spelt out its intentions to keep the system from failing.
For details, you can contact MSI for more information.
As I stated in my first post, I carefully went through all of the BIOS settings and the only thing I could find different between 'default' and 'optimized' is the setting for 'Intel Turbo Boost'.
I will post a question on the BIOS board about any other differences, but until then my original question remains...
...does anyone know of any problems (and hopefully FIXES) with the P55-GD80 and Intel Turbo Boost?