I have yet to be in a performance cycle that ever whipped out my timesheets. It has always focused on the things I have achieved, and that has resulted in a pay increase/bonus. Maybe timesheets are whipped out in a performance cycle but I think that would be an indicator you're about to hit a PIP cycle.

The only time people care about a person's timesheet is usually when they're failing to meet standard. There are some jobs, say like, manufacturing where you have to stay on a line BUT that's still not paying you for your time, you need to be on the line to meet your performance obligations as an employee. It just so happens that the time spent on the line adds up to the time you're expected to be there as an employee.

Now, that's not to say that performance expectations aren't influenced by the time a manager can squeeze out of someone. BUT, if you consistently can exceed expectations you can reduce your output to meet expectations and do something else (another job, working on open source, playing games, walking your dog, etc).

The opposite argument of course is that when you aren't meeting your expectations you are expected to work extra hours (and not get paid more). If a company has "extra" work outside of the normal expectation, they will a pay overtime or offer TOIL.