Simpler, faster, more efficient and also tells you how many open tabs you have at a glance.
If you are a heavy tab user and you find yourself sometimes overburdened and in need to check how many tabs are open, or to save your work for later use, etc, it is precious.
I wish Michele would consider embedding also the functionalities of OneTab and/or of UnloadTabs, since he looks like he could do a significantly better job with that side of the equation too.