the two bits of SQL below get the same result
SELECT c.name, o.product
FROM customer c, order o
WHERE c.id = o.cust_id
AND o.value = 150
SELECT c.na
Oracle was late in supporting the JOIN ... ON (ANSI) syntax (not until Oracle 9), that's why Oracle developers often don't use it.
Personally, I prefer using ANSI syntax when it is logically clear that one table is driving the query and the others are lookup tables. When tables are "equal", I tend to use the cartesian syntax.
The performance should not differ at all.