Depends what you mean by 'performance bike'. Compared to other bikes in the same class such as the CBF1000, Speed Triple, Bandit, ZRX1100, Brutale 990, SuperDuke etc, or big capacity Adventure bikes, it's still faster.
In fact, the only big nakeds which are faster are the K1300, Tuono V4 and our very own FZ1, and then only just. As J. Pitt said, the VFR1200 isn't faster (ok, maybe above 120, but certainly not under 120) so it's only when you get into the litre sports bikes like the Blades, R1s that you get something quicker. Okay, so some of the bikes I've mentioned would beat it round a track because they have better handling, but then again, the Fazer 1000 is quite an old design.
I know what you mean, but instead of thinking of it as an all rounder, I reckon it better to think of it as a real world performance bike. Instead of having to compromise on ease of use, tank range, touring ability or comfort to own a performance bike, you just buy a Fazer!
And that's why it's a great bike. Nothing's beaten it in 12 years.