When talking about linux-VM, vmware-tools install some kernel-drivers for DRI (rendering and screen resolution handling), mouse-cursor grab/release driver and audio driver. Not much more (well, a few more services/daemons/processes, i.e. vmtoolsd for linux-VM).
VMware network-driver (vmxnet1/3) and memory baloon driver is already part of stable linux-kernel tree, as well as bus-logic scsi/sas/para drivers. I do not see where you could (even theoretically) win some performance using vmtools. Full content of VMware tools you can find here: