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Hi Tamera Rousseau-Vesta... this is a great question, but often requires some additional context and categorization. Namely, whether we're talking about front end features, add-ons/connectors, and/or back end technical abilities and customization options (or lack thereof). Some of the obvious differences are how hosted allowed for extensive customizations but at the expensive of easy upgrades 3-4 times a year that allow you to stay on the latest and greatest. With clouds theming toolkit and custom tile abilities, much of the reasons to go/stay on hosted are changing with every release.
If you want more of a full product list though, please feel free to direct message me and we can send one over to supply it within your support group.