I have both. I bought the white racing first (and my first omega as it happens), then the GSOTM.
Whilst there are similarities there quite a few differences, some already listed.
xSOTM:
Ceramic Case
Precious metal dial detailing and hands
Ceramic Deployant clasp (the original GSOTM also came on a buckle option which was about $1k cheaper.
Arguable as there’s no hard evidence if this - but I’m guessing also made in smaller numbers than the speedy racing.
One thing where the Speedmaster Racing beats out the ‘of the moon’ is the certification. The Racing has the newer, METAS certified master chronometer mechanisms.
BTW - I suspect that the older ‘Side of the moon’ watches are being discontinued. Omega have stated they want all their watches Metas certified within the next couple of years. These models will need an upgrade to reach that i think. (Technically i’ve no idea why but if only for marketing reasons).
I have noticed some heavy discounts on all models except the Meteorite version recently. So keep a sharp eye out as you may pick one up at a reasonable discount. That will narrow the price gap I expect.
Whichever you decide to go for then you’ll be delighted I’m sure.
I’m now on the hunt for a Dark Side to add to the collection.
For what it is worth, if you can only have one, then go for the Racing and use some of the saving to buy a steel strap. If you live anywhere with heat then the leather strap will limit time on the wrist unless you’re keen on buying replacement straps often. There’s not an obvious leather alternative fie the GSOTM that would ho well. Unless you like NATO straps. Just my thoughts after owning both for a few weeks and getting into UK summer - which is hardly hot by global standards!
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