You will see more video latency using the Phantom Standard at distance, since it uses old school WiFi with TCP/IP protocol handshaking when sending video down to the controller. Typical latency with the Phantom 3 P/A Lightbridge is about 160ms to 250ms. Wifi can be over double that, depending on your distance. Distance can increase WiFi video latency because if any bits are dropped the packet needs to be resent again. Lightbridge doesn't use TCP/IP, hence it doesn't bother to re-transmit if a bit gets dropped. Lightbridge works more like a TV broadcast and Wifi works more like a computer Wifi connection. Wifi was never intended to be a video transmission medium from air to ground, Lightbridge was.
The biggest benefit of Lightbridge is the tripling of distance, it provides a much more solid video connection that will go 2+ miles, if you have enough battery. Wifi is lucky to reach 2500'. As msinger stated, Lightbridge by itself is worth the money, I'll never use a Wifi platform again, it's so 2014 ;-)
As for the Advanced versus the Pro, there are bitrate differences for the downlink connection and to the card. I highly recommend you consider the Pro, or at least read up on all of the issues people have discovered. Don't plan on installing the HDMI option on the Advanced, people have complained that it doesn't work very good with Headplay HD goggles due to the reduced bit rate.