The higher the coefficient (Cf or Mu) the more effective the pad is. Think of it in the terms of sand paper- only the higher the number the more coarse. Sadly most companies don't offer you that data so you don't really have a clue what you are getting.
Street pads generally run about .38 to .40. Most "performance" pads run about .40-.47. Race pads run up to .65 or better.
What's all that mean on the car? In short, the more pad bite the more total rotor torque is generated with less required input pressure to make it happen. This can have an effect on the vehicles brake bias or braking balance as well. Most common is the hot rod pad on the rear and the cycling of the ABS due to too much pad bite- beyond that which the car can use effectively based on a number of things; tires, wheel diameter (if different) weight, weight shfit, wheelbase and what's on the front brakes.
Why not put .55 pads in everything then? While you could, the dust, wear and noise would be beyond that of what most owners want. There is no one size fits all brake pad regardless of what the suppliers tell you.
The Cf changes as the pad goes through temp changes as well. A race pad works poorly on the street or is too hard on the rotor, a street pad fades at race rotor temps. Personally I prefer pads which 'ramp up' in Cf as the temp rises. There are some like this from a number of suppliers. Doubt you'll find much of that in the street pad world however. Or suppliers that even know what it means. I like this as the bias shifts forward as the temps rise due to greater brake requirements. This tends to keep pace with the wieight shift for track use where less rear brake can be effective. On the other hand at lower temps it's less effective and allows the rears to better match the front.
Which pads are for you? Depends on what you are willing to give up. Mostly noise and dust levels. No doubt a good pad change will improve the response of the brake system and can provide a beter stable braking event. But all that comes with a trade off. There is also no requirement that one use the same compound front and rear so there's some opportunity for experimenting as well if you care too. The use of the car can be a huge factor. Highway, open track, auto cross, drags, daily street, show, wet, snow, cold temps, can all have an impact. The factory simply aims for a good starting point.
As you know the popular BBKs offered tend to use 'performance' pads. This may be a pad that is not as high a Cf as some of the other pads you might buy. How can this be? Because they can use the benefits of changes on piston area or rotor diameter to change the needed pad. Total stopping is total stopping. How you get there is based on the three factors; rotor, caliper, and pad. Think of it as leverage, clampiing and bite.