Motorola Droid 2 has beveled keys, along with dedicated arrow keys, which improves the overall look and feel of the keypad. Droid 2 also has beveled volume buttons, otherwise both phone looks pretty similar.
Droid 2 will run on 1GHz processor and 256 MB RAM, which is twice the amount of RAM in the first version. It is also expected to come with Android 2.2, which is also known for better speed than Android 2.1.