In a word HEAPS.....
In short . . Merge has collision detection and the ability to implement custom conflict resolvers. There are other differences as well. Design of the tables matters with Transactional replication, primary keys and all. Merge adds a ROWGUIDCOL to the tables in the publication to create uniqueness. I wouldn't use Trans with updating subscribers in a Central subscriber scenario. Merge is more tolerant of network latency, in general, although one could argue that Queued updating subscribers are more so.
CodeOn and have fun in 2012.
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