Viewport 2.0 supports all common workflows in Maya. In addition, Viewport 2.0 provides features that are not available with the Legacy Default Viewport; for example, viewport effects such as ambient occlusion and anti-aliasing. Fidelity of lighting and materials is also much improved in Viewport 2.0. Furthermore, it provides much better performance for polygons and tessellation, and improves scene performance through the use of features such as vertex animation cache and GPU instancing.
In this scene, an Ocean Shader is applied to a plane. The difference between working in the Legacy Default Viewport and in Viewport 2.0 is demonstrated below.

Select
Renderer > Viewport 2.0 >
to open the
Hardware Renderer 2.0 Settings window. See
Viewport 2.0 options for more information.
Viewport 2.0 also includes the following performance improvements over the legacy default viewport:
Significant performance improvement in Viewport 2.0 for scenes with huge amounts of geometry or cached animation that does not fit in GPU memory.
When writing your own plug-in, you can also use the MPxSubSceneOverride class to take advantage of this performance improvement.
See the Maya Developer Help for more information.
In addition, any plug-in that implements a custom shape as a user defined shape node (MPxSurfaceShape), without the use of any Viewport 2.0 API classes, can also benefit from performance improvement.
MultiDraw Consolidation is active by default in OpenGL mode in Viewport 2. It increases viewport performance by combining traditional consolidation for static objects and MultiDraw consolidation for non-deforming animated objects (including meshes, NURBS surfaces, NURBS curves, and other geometry) when drawing in the viewport. For more information see
General variables. MultiDraw provides performance gains particularly in scenes that have large numbers of non-deforming objects. Non-animated scenes are unaffected.