The cancellation and modification terms seem more generous.
A lot of the generosity has a lot to do with the OGL though. Paizo isn't writing on a blank slate here. Just as having your car repossessed doesn't deny you the use of public roads, losing the Pathfinder Compatability license doesn't deny you the OGL.
Of course, to an actual businessman instead of a forum-kiddie, the morality of a Paizo's IP stance is or ought to be a moot point. A better cancellation clause is a better cancellation clause, whether it was done out of goodwill or out of a need to comply with an existing license from a third party.
As for the morality clause: JUST LIKE THE CANCELLATION AND MODIFICATION CLAUSES IN THE GSL AND THIS LICENSE, it has to be judged as a business matter. It can only be interpreted in the context of assumptions about the future actions of another company. If you believe WOTC is likely to lure you in with the GSL then alter it to screw you over, don't accept it. If you believe that some functionary at Hasbro is going to censor your game, don't accept it. Same thing's true with Paizo.
My best guess as to those business matters? WotC has no intention of screwing over third party publishers by altering the license to hurt them. It also has no intention of being overly picky about the morality clause. And Hasbro doesn't even care. WotC does intend to publish a fifth edition someday, and they don't intend to tell you about it in advance. But they don't intend to do that for a while, and there's probably money to be made in the meantime.
Paizo probably has no explicit plans of a new edition that will make your older products harder to sell. But we're dealing with eight year timeframes here, so who knows what will happen by then. If I had to guess, I'd say that the longer that Paizo publishes independant work the more they'll trend towards creating their own non OGL products, simply because they'll develop more of a unique identity and will want to change the game to match their own style more closely. Paizo likewise won't spend much time monitoring your products for morality, and like WotC, will probably only act if they get complaints or if you do something really icky. On top of that, you always have the OGL to fall back on if you can't work with Paizo for some reason.
