well the big difference is delivery system. the Mr. Freeze uses just vacuum pressure. where as the snow kit uses a motorized delivery system. freeze is all mechanical where as the snow kit is more electrical. the snow kit allows for more gizmos and doodads and more tuneabilty IMO. the mr. freeze is just a straight forward do it yourself kit that you could probably make at home depot for less than what AFM sells it for.
I bought the snow kit but haven't installed it yet. I'm a huge AFM fan, but i just don't like their meth kit.