Bob is referring to the conditional content part of the Revolution manual
http://rtfm.modx.com/display/revolution20/Input+and+Output+Filters+%28Output+Modifiers%29
Output modifiers will perform an action on a placeholder or other content variable - eg formatting dates, creating thumbnails or 100 and one other things (not all documented yet)
Conditional output modifiers try to perform logic as well as formatting, eg [[+introtext:if=`[[*id]]=29`:then=`<strong>Hello</strong>`:else=`<em>World</em>`]] NOTE that example probably doesn’t work as I’m riffing here. They do not do this as efficiently as the If extra, and both methods are slower than writing a custom snippet that checks for a specific set of circumstances.
Math output modifiers do, erm, maths - ie calculate a new value based on the input value. I’ve never used them in a live environment, so I can’t really comment.
I think the general principle Bob is getting at is that a specific snippet will usually outperform a generic one (although this may be a marginal performance gain), and both will outperform the output modifiers. It’s partly to do with parse order, and partly to do with the extra overhead of loading classes and methods that are more ’able’ than strictly required.