Comparing two plugins: Membership & Protected Content

I see that there are two plugins for membership sites. In a nutshell, can you tell me what Membership does that the other doesn't? Here are some features I believe I need:

- recurring payments (monthly, quarterly, annual)
- multiple subscription levels
- Paypal integration

I assume the Membership plugin is more powerful (and more complex), so what can it do that the other plugin can not?

Thanks, Joe.