Use glColorMaterial() when only a single material property is being varied rapidly (at each vertex, for example). Use glMaterial() for infrequent changes, or when more than a single material property is being varied rapidly.
Use glLoadIdentity() to initialize a matrix, rather than loading your own copy of the identity matrix.
Use specific matrix calls such as glRotate*(), glTranslate*(), and glScale*(), rather than composing your own rotation, translation, and scale matrices and calling glMultMatrix().
Use glPushAttrib() and glPopAttrib() to save and restore state values. Use query functions only when your application requires the state values for its own computations.
Use display lists to encapsulate potentially expensive state changes. For example, place all the glTexImage*() calls required to completely specify a texture, and perhaps the associated glTexParameter*(), glPixelStore*(), and glPixelTransfer*() calls as well, into a single display list. Call this display list to select the texture.
Use display lists to encapsulate the rendering calls of rigid objects that will be drawn repeatedly.
Use evaluators even for simple surface tessellations to minimize network bandwidth in client-server environments.
Provide unit-length normals if it's possible to do so, and avoid the overhead of GL_NORMALIZE. Avoid using glScale*() when doing lighting because it almost always requies that GL_NORMALIZE be enabled.
Set glShadeModel() to GL_FLAT if smooth shading isn't required.
Use a single glClear() call per frame if possible. Do not use glClear() to clear small subregions of the buffers; use it only for complete or near-complete clears.
Use a single call to glBegin(GL_TRIANGLES) to draw multiple independent triangles, rather than calling glBegin(GL_TRIANGLES) multiple times, or calling glBegin(GL_POLYGON). Even if only a single triangle is to be drawn, use GL_TRIANGLES rather than GL_POLYGON. Use a single call to glBegin(GL_QUADS) in the same manner, rather than calling glBegin(GL_POLYGON) repeatedly. Likewise, use a single call to glBegin(GL_LINES) to draw multiple independent line segments, rather than calling glBegin(GL_LINES) multiple times.
In general, use the vector forms of commands to pass precomputed data, and use the scalar forms of commands to pass values that are computed near call time.
Avoid making redundant mode changes, such as setting the color to the same value between each vertex of a flat-shaded polygon.
Be sure to disable expensive rasterization and per-fragment operations when drawing or copying images. OpenGL will apply textures to pixel images if asked to!
OpenGL Programming Guide