Two differences, the blade clamp Assemblies are shaped differently. On the type 1 they are more triangle shaped. The blades protrude from the clamps more than on the type 2. No advantage either way.
The second difference is on the type 1 the cast iron table was machined with a smooth surface. On the type 2 it is very rough. A little 220 grit sand paper with WD40 and some elbow grease will fix that.
As far a quality, other than the table machining, no differences.