IMO
One important difference to me was/is with the Black you Can take Video & Stills at the Same Time. (Can't do this with the Silver.) And the resolution of the black is better but 1080 gives excellent videos.
Since I didn't investigate the difference and I had some Bass Pro Gift cards I'd been sitting on for 9 months, I went to our local BPS. They only had the Silver in stock so I got it. I'm Now trying to justify the Black. :twisted: The guy who hooked me on the Phantom 2 is a fisherman here. After I'd bought the Silver he told me, "Should'a bought the Black and sold the remote on ebay for $65.00" which helps justify the Black.
Overall I'm satisfied with the Silver but I would Like to take Stills at the same time.