What is the difference between Protected Content and Membership?

I just saw the Dashboard notification about the Protected Content plugin. My first impression was a "replacement" for Membership. I can't figure out the difference between the two. I have a new site that we are opening soon with a paid subscription option, but no members yet. and it woudldn't be too much work to rebuild access levels if Protected Content is a "better" plugin than Membership. Should I be considering Protected Content rather than Membership?

I'm running BuddyPress, MarketPress, and Membership on a directory-based Multisite installation.

Thanks for your guidance!

James