Phoronix did some benchmarks of meego running against ubuntu and a few other distros. MeeGo came out on top in most of the tests:

http://www.phoronix.com/scan.php?pag..._10_perf&num=1

From the article:

MeeGo is certainly an interesting distribution for not only its speed advantages in different applications, very fast boot times, and an interesting user-interface, but also it is interesting from a technical perspective with its use of Btrfs by default, among other innovations. The MeeGo 1.0 netbook edition can be downloaded at MeeGo.com. We will certainly be around with more MeeGo tests in due time.
I'll hopefully have meego (handset) running on my new system sometime this week after a slight delay (the package for the igepv2 board came today but my wife wasn't awake enough and/or dressed enough to get to the door before fedex gave up ). I'll try to get some video and benchmarks when I get it up.