<p>What is the difference in C# between <code>Convert.ToDecimal(string)</code> and <code>Decimal.Parse(string)</code>?</p>

<p>In what scenarios would you use one over the other?</p>

<p>What impact does it have on performance?</p>

<p>What other factors should I be taking into consideration when choosing between the two?</p>

From
bytes.com
:
The Convert class is designed to
  convert a wide range of Types, so you
  can convert more types to Decimal than
  you can with Decimal.Parse, which can
  only deal with String. On the other
  hand Decimal.Parse allows you to
  specify a NumberStyle.
Decimal and decimal are aliases and
  are equal.
For Convert.ToDecimal(string),
  Decimal.Parse is called internally.
Morten Wennevik [C# MVP]
Since Decimal.Parse is called internally by Convert.ToDecimal, if you have
extreme
performance requirements you might want to stick to Decimal.Parse, it will save a stack frame.