This is the era of High Performance Computing (HPC). There is a great demand of the best performance evaluation techniques for the file and storage systems. The task of evaluation is both necessary and hard. It gives in depth analysis of the target system and that becomes the decision points for the users. That is also helpful for the inventors or developers to find out the bottleneck in their systems. In this paper many performance evaluation techniques are described for file and storage system evaluation and the main stress is given on the important one that is replay traces. A survey has been done for the performance evaluation techniques used by the researchers and on the replay traces. And the taxonomy of the replay traces is described. The some of the popular replay traces are just like, Tracefs , //Trace , Replayfs  and VFS Interceptor . At last we have concluded all the features that must be considered when we are going to develop the new tool for the replay traces. The complete work of this paper shows that the storage system developers must care about all the techniques which can be used for the performance evaluation of the file systems. So they can develop highly efficient future file and storage systems.