How much of a performance difference is there and in what ways would I notice it? Faster boot times? I'm assuming it won't affect fps in games, but will it make games and other applications load faster?
The difference is so small you will never notice it. The Black series is a more robust drive with a 5 year warranty vs a 2 year warranty on the Blues. The Black does have some performance features the Blue lacks but the only way to really tell a difference is with benchmarking software. The real consumer difference is the warranty.
If you want a true all around speed boost get an SSD. Even a cheap "low end" SSD is many times faster than any mechanical drive.