I would have to say that 98 is faster (generally). Espcially when it comes to simulators. Reason being that 98 allows direct access to the hardware... of course it is far less stable than 2000 and XP.
Likely WinXP will be peppier for games, but initially, that performance may be hidden by poorly done, quickly released drivers for XP. However, once support for the OS comes around, I'd expect nice ...