In this paper we study performance limitation issues found in linear multivariable feedback systems. Our main contributions include Bode and Poisson type integral inequalities and performance limits for the sensitivity and complementary sensitivity functions. These results characterize and quantify explicitly how open-loop unstable poles and nonminimum phase zeros may impose inherent limitations on feedback design and fundamental limits on the best achievable performance. The role of time delay is also studied in this context. Most notably, we show that the performance and design limitations in multivariable systems intrinsically depend on the locations as well as directions of unstable poles and nonminimum phase zeros, and in particular, on how pole and zero directions are aligned. The latter is characterized by angles measuring the mutual orientation between zero and pole directions, and it is shown to play a crucial role in multivariable system design.