I just flashed Simplicity 1.5.1 JVT with Semaphore 1.8.0 big mem, clocked to 1200mhz and undervolted. I was on Damian gto's kernel for ages before this and I can say the performance on this new kernel combined with the supercharge scripts in this ROM have to be experienced to be believed. This is the fastest and most stable my phone had been since Froyo 2.2.1 - I am actually really proud to own this phone.
For a phone that's so "old" in this day and age I can't believe how amazing it runs with the help of the open source community. I cannot imagine how powerful something like the Galaxy Nexus will be when the community gets behind it- I can't wait to find out.