Somehow I have a hard time believing that Java will be able to "perform" anywhere as near as good as the current glest code. I code in Java all day long so I do know a bit about the language. While Java support graphics and 3D, thats as far as it goes.. support.
There's a reason why game companies and most open source projects don't use Java as their language, its a huge memory pig and doesn't do graphics well.
I don't want to discourage anyone here, I just think the time spent may end up the same way other abandoned projects have ended.