For instance, iTerm supports italic, which Terminal.app doesn't. Gnome's terminal (vte, actually) does support overline (I volunteered adding it to iTerm, but I'm nowhere near close), which is handy for status lines, as well. I think there is one that takes ANSI codes seriously enough to support double-height and width.
To see what's missing, you can look into https://en.wikipedia.org/wiki/ANSI_escape_code
It does (just checked).
If you're a light user, probably not much.
I spend probably 2/3rds of my day at a command line, and iTerm has a ton of handy usability features that make life a little nicer. With kitchen-sink apps like this, everyone uses them differently, but things that make my life easier include:
- command-up arrow to scroll up by command - programmable appearance changing (using the server-side shell integration) to visually prompt me when I'm not my usual UID and to show machine names in the background of the window - Deeply customizable minor usability details, like the ability to copy-on-select, which I use all the time but some people hate
Nothing that is going to empower you do do things you can't now; rather just nice features that make address the quirky needs of heavy shell users.