With Hypervisor perfomance and features, there isn't a difference, they will both do exactly the same thing without limitation. When you install the full Server product, you incur the overhead that the OS requires. You are able to use all other roles available in the edition you've installed, each one adding impact to each other as they are added.
I have one in each scenario. The Hyper-V Server was a lower spec'd machine, and I wanted to squeeze everything out of it for VMs.
The Server 2008 R2 w/ Hyper-V is a development server with a ton of memory and disk space, and I wanted full GUI control direct from the console.