There are several ways to gauge the performance of a control system:
speed - this can be speed of response, speed of calculation, speed of scanning, and clock speed. There may be more but these are top of the head.
amount of memory - this determines how large your programs can be. Large memories can mean that your system can handle lots of data or can control large processes.
operating system - I'm not talking about whether it's XP or 2000 or MacOS. A simple operating system can probably handle simple logic (AND, OR, XOR, NOT, and timer and counters). A more advanced system can incorporate instructions like SIN, COS, TAN, LOG, CMP (compare), etc.
number of inputs/outputs - personally, I think the more the merrier. I've lost count of how many times we've had to upgrade our systems because we've run out of inputs or outputs.
Some of these actually qualify as specifications but they can also be used for comparing performance.
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