I provide a direct comparison against Transit in the top-right corner of the documentation.
EDIT: looks like Transit introduces hz tearing in perf demo, might be a bug in lib or demo?
As for Transit's tearing and banding at high element counts -- that is indeed the performance bottleneck of CSS transitions shining through. If you're interested, you can learn the technical reasons behind Velocity's speed increase over CSS and jQuery here: http://davidwalsh.name/css-js-animation