AX 2012 R3 migration to D365

1. Does anyone have any experience doing a migration from AX 2012 On Prem to D365?
2. Did you experience any performance gains?
3. What issues did you experience with the lack of control that comes with a cloud hosted environment/setup?

We are a fairly large organization and are constantly looking for better performance tweaks we can do.  We have thrown as much hardware as we can at the situation and are looking for a better solution. 

Looking for any feedback that is out there about if the cloud provides a better user experience.   Thanks for any information that you have on this subject.