Actually, in vLite you can also "Skip user creation" so that you can use the true Administrator account, because even if you disable UAC under a normally created quasi-Administrator account under Vista, there are still annoying things that occur which don't when using the true Administrator account.
I can't provide a list as although I've installed Vista both ways, I quickly became spoiled using Vista with the true Admin account, versus the normal way with a quasi-Admin account. Therefore, I haven't used the normal way in over a year. I seem to recall some of the difference in how Vista acts had to do with "Open with" from the context menu, but I'm positive that I had noticed other differences.
Also, I would argue that it is easier to turn off or remove Vista features from vLite, along with the unattended settings, so that Vista is as set up as possible as soon as it boots the first time, besides that vLite explains what all sorts of parts of Vista do and what the consequences of turning them off or removing them are.