Okay, Thank you for the reply. We did confirm that a Performance Point Install requires SQL 2008 Standard, but there is a catch ...

You may need POWERPIVOT which is an SQL 2008 Enterprise feature. But SQL Enterprise is not required to install and evaluate Performance Point 2010 feature. There are a few other enterprise features that are useful for data cube performance too: pre-fetching and cube write back.

So, the answer to the question is Yes and No, depending on how many cubes and users you have in production.