There IS no difference. The only reason people use matrixes is because setting the levels of the two sides signals can be a bit annoying. Actually, it is not at all difficult. The difficulty comes in CHANGEING the level of the MS signal when you mix, if you decode at mix down (and I for one don't really see the point in decoding to tape) the level of the two side signals MUST remain EXACTLY the same, or it doesn't work. That is easy with automation, but difficult without it.
Actually, come to think of it, the main reason people use matrixes is probably because some companies marketing company told them they needed it. They don't actually do anything useful, but if you don't know the theory behind it, advertising mooks can sell you anything.
Gabriel