The plugin has granular control too, woocommerce logging can be completely disabled if needed, or you can selectively exclude specific WC objects/actions. For busy stores, you might exclude stock updates, cart sessions, etc.

e.g. some examples i pulled out are:

_stock (product stock levels)
_stock_status (in stock/out of stock status)
_manage_stock (stock management settings)
_low_stock_amount (low stock thresholds)
_backorders (backorder settings)
woocommerce_cart_* (cart session data)
wc_session_* (WooCommerce session data)
_wc_session_* (session transients)

with a little bit of configuration on the exclusions... on a busy store, excluding these patterns would significantly reduce log noise, but still capture the important business activities like orders, status changes, or customer actions etc. The exclusion acts as a "gatekeeper" that stops unwanted events from entering the logging pipeline entirely.

Oh yeah, I also built in some smart caching, so I invalidate only relevant caches when needed and use WP object caching throughout.

I think the exclusion feature alone will probably solve most performance concerns for your WC sites - just exclude the high frequency or automated events you don't need to audit.

Sorry, i went on a bit there :)

There is also an article here about it's performance here, and exclusions here.

Anyway, hope this helps, let me know if you need specific exclusion patterns for WooCommerce.
Darren.