[DaFace]

Here's a decent run-down via a reddit comment:

Here are a few advantages of Google Drive:

• Paid plans are cheaper
• Offers more free space (unless you have dropbox referrals)
• Images and videos uploaded through Google+ do not count against your available space (restrictions apply)
• Document collaboration ala Google Docs
• Supports online viewing for "over 30 filetypes" including photoshop, illustrator and HD Video (not sure how the support stacks up to dropbox)
• Sync appears to be much faster than dropbox
• Space also applies to other google products: gmail & picasa
• Shared files give you a commenting and chat interface - which is actually more useful than it sounds
• If you happen to be grandfathered into a google storage plan the prices are DIRT CHEAP.
• The Google Drive icon is way more awesome than the Dropbox icon, especially the menubar icons on OS X.
• Google docs are sync'd to your desktop AS google docs. I'm not sure if this is an advantage or not, but it does provide an extra security measure against access to those documents.
• Improved search over Dropbox - including OCR recognition of PDFs, etc. This is really nice for eBooks.
• Files can be kept forever even if you stop paying. Stop paying and your files over the free storage limit will remain with read-only access as long as you want them. You could consider it pay once forever hosting.
• File-level app permissions. Apps don't need access to your entire dropbox, you can grant them access to a single file.

The one area where Dropbox is a win is existing integration, but Google Drive has everything necessary to be built into apps in the same way and is already supported by autodesk, aviary, and several others.

Things that both Dropbox and Google Drive have:

• 30 Day Versioning
• Selective sync
• Desktop apps for OS X & Windows, Android, and iOS (coming soon for Google Drive)

Here are a few advantages of Dropbox:

• Desktop support (right click share)
• Adjustable sync speed
• Lan Sync
• Sync progress status
• Native Linux Client