lol @ some of the above posts.
With regards to your speedo: It is all about the rolling radius of the tyre, not the alloy. Providing you drop the size of the tyre wall (profile percentage x width) as you increase the alloy size you will have no problems with the speedo or the gearing being out. You will never get exactly the same rolling radius, but the speedo is always designed to over read slightly anyway, so if anything, increasing rolling radius will make the speedo more accurate.
With regards to performance: Do you just mean straight line speed? If so it is all about weight. 17s are usually heavier, which is why they seem a little slower. Most peopel advise against 17s because of the ride and feel. Some think 17s grip better due to the reduction in tyre wall flex, but on the british roads the lack of tyre wall flex actually makes the car grip less.
Between 16s and 15s there isn't much difference, although IMO, 15s are more fun and come with the added bonus of cheaper tyres. The ride is also nicer and the chances of buckling the alloys are reduced.
Hope that helps.
Sam