I have a bit of a love/hate relationship with Performance Bike. They're not a local bike shop and are bad for local bike shops because they are able to undercut prices because they're a national chain and started off without any retail stores, getting big enough with mail/phone/internet orders only to be able to continue it's reduced prices in it's newly opened retail stores. Low prices are great, but I have friends that work in bike shops, and it's good to have well qualified people working in bike shops instead of some kid that Performance hires at minimum wage. (This may not be factual, but is my impression.)
In Atlanta I support my local bike shops (they're within biking distance of my house, unlike performance), but out here in California, the closest shop happens to be a Performance Bike. I wanted a road bike to try that out and got one there. It was great, but I notices parts of one of the front chain rings flaking off after my first ride. Not just slight wear on them, but big thumbnail size chunks of the finish just falling off. I was a little ticked about this, given how much I spend on the bike, so I went back by Performance and had a heated discussion with the manager there. Not cool. He thought I was complaining about wear and tear on the chainrings, and when he saw where the flaks were falling off and understood that it only had ~25 miles on it, he apologized and said he'd call Truvativ (the manufacturer of the bb+cranks+chainrings) and see what they said. He said they'd call me when they heard from Truvativ and three weeks later I still hadn't heard from them. I went back in once to buy something else and the manager immediately said hi to me and that he hadn't heard back from them, so points to him for that.
A few weeks later, I decided that road biking wasn't for me. There was no way I was going to get my moneys worth out of the bike and I was nervous about shipping a carbon fiber framed bike back to Atlanta. I called Performance and they said I could still return it! I took it back there the next evening, and they refunded my entire purchase price! I had taken all the stickers off the wheels and frame (there were a lot of them) and there was a little bit of wear on the seat, but it wasn't a problem. Major major points to performance for this. It had been ~45 days and ~350 miles, and they understood that road biking wasn't for me and took it back no problem.
I'll definitely still be mostly visiting my LBSs in Atlanta, but when people ask me how I feel about Performance I'll have better things to say and I won't feel as bad buying things from Performance.