• Here's a page describing the differences (basically you can put html into a <button></button>)
  • And another page describing why people avoid <button></button> (Hint: IE6)

Another IE problem when using <button />:

And while we're talking about IE, it's got a couple of bugs related to the width of buttons. It'll mysteriously add extra padding when you're trying to add styles, meaning you have to add a tiny hack to get things under control.