1. I believe the difference is that UR3 doesn't permanently unlock NAND...which means customs ROM's that require NAND to be unlocked (i.e. Fresh) won't work. This also means you can't uninstall system apps (i.e. Sprints Apps). This method IMHO, is good for users that only want to root their EVO in order to play with some root required apps. You can also back up your device as well.
2. Using UR3 does not require a factory reset...nor will it do it by using this method. Simple Root and Toast's method does.
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