Speed isn't an issue, at least in my experience, compared to similar languages. Raw PHP usually beats Rails handsdown, and most PHP frameworks are usually comparable. PHP performance has increased markedly over the past few years, and particularly in v5.4. And if you really need a speed bump you can use the APC cache or HipHop compiler. Its never going to be as snappy as, say, C, but in the class of languages its in these days it holds it head up high.
I like the namespace separator, but I'll accept I’m in the minority on that one.