Sports performance equipment can be classified in many ways. Really, the choice of equipment is what works best for you. Here is what you should consider when buying performance sports equipment.
Equipment Overview
Sports equipment can be anything from shoes, to swords depending on the sport you are talking about. "Performance" sport equipment is just a term that many companies use to describe their higher end products. No matter if you are buying a baseball bat or a football helmet, you will find that every piece of sports equipment comes in a wide variety of price ranges that offer different features. Like any consumer product, to get the better features, it is going to cost you more (sometimes 3-4x more expensive).
A Couple Examples of Performance Equipment
Baseball Bats - Baseball bats are a prime example of performance sports equipment. Most amateur and minor league baseball affiliations allow use of aluminum bats. Here, the highest end performance sports equipment would be the lightweight stronger bats with more "pop".
Football - Helmets - Helmets in football also come in standard and higher performance variations. For instance, a performance football helmet would give you a lighter, stronger shell, as well as a lighter, stronger face mask. This would allow you to move your head more freely when in pads.
Golf Clubs - Golf clubs are probably the most differing example of sports performance equipment. High-end clubs will give you features such as better grip, titanium shaft, improved balance, weighted head, etc...
What's Best For You
Different athletes have different preferences. Some will say that performance sports equipment will give you an edge because it has the latest technology, where as others prefer the more traditional equipment standards. No matter what your preference, the most important thing to remember is to play with what you are most comfortable with. Think of it like this when going to buy equipment: set a maximum price range which you will not go over. Find all equipment that is on or below that price level. Then, think of that equipment as no price tag. Try out/ try on all of the equipment without looking at the price or brand. Decide to purchase the one that feels most natural for you. Also, if you are having a hard time deciding on how much to spend, take into consideration which level you are at in a sport. For example, a high school baseball player probably does not need as expensive of glove as the New York Yankees catcher.
Safety
One thing to remember is that with any sport comes some chance of injury. You don't necessarily have to purchase the highest end sports peformance equipment, but it is not recommended to go for the cheapest either. Pick something durable. For anything you buy, you can usually find reviews online or get an expert opinion by asking someone who has already bought and used a product. But remember, the equipment does not make the athlete... a good athlete can play well under any circumstances.