The studio is a cosmetically "stripped down" version of the Paul.
I think playability and setup should be more or less the same. (never played a Studio)
price would be the main difference, no matter which way you look at it your paying vintage gibson prices for a guitar that was made in a cnc machine. i wouldnt waste my money.
I don't think CNC machines are evil by nature. Most guitar builder use them now (even the hand-made "boutique" builders). They improve consistancy and speed up some really basic, simple, but time consuming phases of production.
I would agree, however, that Gibsons are way overpriced. I would consider a Heritage, Hamer, or (for Buck62) a Samick any day before buying a Gibson.
i hope this isn't another gibson bash ....first to your question i own an 84 Les Paul Studio Custom ,gold hardware ,tobbacco sunburst, binding on neck and body, pearl tuning keys ,not much cosmeticaly but it ways about half as much as my 78 goldtop and new in 84 cost about $850 with hard case nowadays they are over 1000 and very stripped for th most part ,but still lite ....so to answer depending on th model th difference is about 5 lbs and 2 grand