Well during my usual perusal of Linux based sites one particular article took my eye, it was Linux Magazines Gentoo Optimizations Benchmarked.
It shows, in my opinion quite comprehensively, the advantage of a Gentoo base system with the latest kernel and I reccomend you check out the figures for yourself.
The article states that big gains can be made but is it worth the time? I say no, use entropy and get the best of both worlds!
Oh, you can find the entropy make.conf on any entropy mirror, if you want to take a look at the setup we use to build entropy packages.
P.S. Kororaa Linux was not the first LiveCD w/ 3D desktop effects, that would be Sabayon (ofcourse!), Chris knows this, we have emails to prove it also, so he should really change his little bio on that site.