As you can see, the tall blazer has longer arms (by about an inch) and a longer torso (by about 3/4 of an inch). With the added length of the sleeves also comes a bit of width, which I may have corrected by a tailor. The longer sleeves allow me to move my arms without looking like I am wearing a 3/4 sleeve blazer, which is what happens a lot when i buy blazers/sweaters. The added length in the torso, even though it is just a little bit, allows the blazer to sit a lot better on my waist. I feel the buttons on the tall blazer aren't pulling pulling across by chest like they are on the regular blazer because they sit right underneath it.
The catalog and website don't tell you the fabrics used for the blazer, but in case you were curious, the shell is 98% wool and 2% spandex (which explains the "wool with a hint of stretch").
Over all, I'm thrilled with this blazer. Expensive? Yes, but I hope that the cost per wear will drop quickly because I plan to wear this allllllll the time. Get excited.