The /system/build.prop file on Android devices contains parameters that control various functions and information on the device. Here are some that are of interest. Note: to make changes to this file, your phone must be rooted.
Increase the VM heap size, probably not a good idea on low end phones with limited memory:
dalvik.vm.heapsize=48m
Draw the UI using the GPU instead of the CPU
debug.sf.hw=1
Decrease dial out delay
ro.telephony.call_ring.delay=0
Increase scrolling responsiveness
windowsmgr.max_events_per_sec=180
Increase scan time for wifi APs (saves battery)
wifi.supplicant_scan_interval=120
Save battery
pm.sleep_mode=1
ro.ril.disable.power.collapse=0
Disable debugging icon on statusbar
persist.adb.notify=0
Disable boot animation for faster boot
debug.sf.nobootanimation=1
Force launcher into memory
ro.HOME_APP_ADJ=1
Prefix "3g" on lock screen
ro.ril.enable.3g.prefix=1
Some of these didn't work on my LG Vortex or had no noticeable effect. Specifically,
dalvik.vm.heapsize=48m (I have limited RAM so I didn't try it)
ro.telephony.call_ring.delay=0 (I had no need to try this one either)
ro.ril.enable.3g.prefix=1
If the parameters are not in the build.prop file, just add them. You must reboot the device for the changes to take effect.