Will ANSI JOIN vs. non-ANSI JOIN queries perform differently?

The two queries are the same, except the second is ANSI-92 SQL syntax and the first is the older SQL syntax which didn't incorporate the join clause. They should produce exactly the same internal query plan, although you may like to check.

You should use the ANSI-92 syntax for several of reasons

• The use of the JOIN clause separates the relationship logic from the filter logic (the WHERE) and is thus cleaner and easier to understand.
• It doesn't matter with this particular query, but there are a few circumstances where the older outer join syntax (using + ) is ambiguous and the query results are hence implementation dependent - or the query cannot be resolved at all. These do not occur with ANSI-92
• It's good practice as most developers and dba's will use ANSI-92 nowadays and you should follow the standard. Certainly all modern query tools will generate ANSI-92.
• As pointed out by @gbn, it does tend to avoid accidental cross joins.

Myself I resisted ANSI-92 for some time as there is a slight conceptual advantage to the old syntax as it's a easier to envisage the SQL as a mass Cartesian join of all tables used followed by a filtering operation - a mental technique that can be useful for grasping what a SQL query is doing. However I decided a few years ago that I needed to move with the times and after a relatively short adjustment period I now strongly prefer it - predominantly because of the first reason given above. The only place that one should depart from the ANSI-92 syntax, or rather not use the option, is with natural joins which are implicitly dangerous.

The second construct is known as the "infixed join syntax" in the SQL community. The first construct AFAIK doesn't have widely accepted name so let's call it the 'old style' inner join syntax.

The usual arguments go like this:

Pros of the 'Traditional' syntax: the predicates are physically grouped together in the WHERE clause in whatever order which makes the query generally, and n-ary relationships particularly, easier to read and understand (the ON clauses of the infixed syntax can spread out the predicates so you have to look for the appearance of one table or column over a visual distance).

Cons of the 'Traditional' syntax: There is no parse error when omitting one of the 'join' predicates and the result is a Cartesian product (known as a CROSS JOIN in the infixed syntax) and such an error can be tricky to detect and debug. Also, 'join' predicates and 'filtering' predicates are physically grouped together in the WHERE clause, which can cause them to be confused for one another.