I have used both NUnit as well as MS Test. I like the integration of MS Test with the IDE and additional benefit of code coverage as well. But due to the performance reason as well as things like fluent assertions I prefer to use NUnit over MS test.
You can write framework agnostic asserts using a library called Should. It also has a very nice fluent syntax which can be used if you like fluent interfaces. I had a blog post related to the same.
http://nileshgule.blogspot.com/2010/11/use-should-assertion-library-to-write.html
If we use something like Should for assertions then both versions of test almost lokks the same and I don't see much difference between the two frameworks.
I had done a comparison of NUnit and MSTest unit testing frameworks in one of my blog.