Generally speaking, the majority of Linux users choose a distro that has a good reputation (Debian, Slackware, CentOS, etc.) and use the tested, trusted, and supported kernel from the developers, applying updates as they are available through the package manager. That should give a good balance of stability and performance on most hardware.
To answer your specific question, all changes to the Linux kernel are extremely well-documented, since it is an "open source" project. The question then becomes, is it easy for a layperson like you or me to read through the changelogs to know if performance will be good on our hardware? And the actual fact is, it is much quicker to simply burn the Live CD and take it for a test drive, than it is to sift through the Linux kernel changelogs.