Since for Christmas I received a point and shoot digital camera, and my Henry arrived shortly after Christmas I decided to snap a few comparison shots of both my newly arrived Henry and my standard federation!

Beyond the obvious difference in the felts, the next most obvious difference are the bows:
http://i140.photobucket.com/albums/r33/ ... ed_bow.jpg
http://i140.photobucket.com/albums/r33/ ... ry_bow.jpg
Unbashed the crown heights seem very close, as I have them bashed the Federation appears slightly taller.
http://i140.photobucket.com/albums/r33/ ... yvfed4.jpg
On my noggin.
Federation - http://i140.photobucket.com/albums/r33/ ... edhead.jpg
Henry - http://i140.photobucket.com/albums/r33/ ... ryhead.jpg
The felt and color difference.
http://i140.photobucket.com/albums/r33/ ... ryvfed.jpg
Just for good measure.
http://i140.photobucket.com/albums/r33/ ... yvfed3.jpg
My layman's review of The Henry: Its a very nice hat, I've never owned a handmade hat, nor seen in person an AB/AB deluxe. The Henry really reminds me of my favorite vintage fedora I own, a near mint Brooks Brothers hat from the early 60's, the quality of the stitching and the ribbon are equal. It is considerably nicer then either of the standard Federations I own. That being said it has certainly made me appreciate my Federations more so, as they are very good hats for the price. My only caveat to that would be if you are on a budget, and you are saying to yourself, "I'm only going to purchase ONE Indy fedora" I would recommend saving a little longer and go for The Henry.
My only complaint with The Henry is when I received it the round piece of cardboard forming a tube the crown is protected in had left an impression on the brim, close to the brim break and seemed as if it was starting to form its own new brim break. However out of the box with some wear and brushing it has really not impacted the hat negatively in my opinion. Also I have done a CS bash on The Henry, retrospectively I think it will make a better Raiders hat if you are super concerned with how screen accurate your bash is. This isn't a complaint though, just an observation.
Alright, the end of my attempt to be helpful to prospective Henry buyers!