The methods used are slightly different, and you actually have a few more decisions to make. But the biggest difference to me is that in 4th Edition, I was the happiest with my character when I started with the concept I wanted (as in, I want to play a guy who's wicked good with a bow, or I want to play a guy who smites the forces of evil for Bahamaut, or I want to play the guy with a shady side who has a hard time telling the truth when he's stressed), and then made my other decisions from there. I think 4th Edition encourages this approach to character creation more than previous editions, which means in the end, you get a character that's closer to your concept.