Can you please explain what "initialize performance" does ?
Initialize (make ready)...It wipes clean “restores the default values” what was there but does not “delete” the performance spot. So it’s a blank placeholder, ready for a rig.
With the local library you can “delete” the performance and it is gone. So you will notice when you store to local library, you will have a few instances of the same performances sometimes but different date/times. To clean them up, you can “delete” them.
That is how I understand it. Hope that helps.
Edited with clarity as per GString