ANG
Glad to help answer some of your questions. I'm a Guard Original, and it's a great choice ...
There are so many differences that I won't attempt to explain them all, but let me cover the highlights.
The ANG benefits greatly from AD experience ... however, it is better in almost every way. You can expect more experienced pilots flying better maintained aircraft, focused on taking care of the mission and their buddies. The unity of a squadron that has flown together for most of their careers is incredible.
As far as pay, this would take me hours to explain, and I've had too many beers for that. What you need to know is that it is very good, but sometimes difficult to get as a part timer. You can get full time positions, and yes, the pay can be significantly better than AD. Most part timers find a full time spot, or hook up with the airlines, so I wouldn't be concerned.
As far as the comment about having to fly at the same place all your life ... this isn't true. You can move from unit to unit if they will hire you, but once you find a place you like, I doubt you'll be inclined to do so.
Best of luck with your search for the right job ...