Like I am the right guy to answer this...

But I can give the reasons why I went propane...
1. New equipment. Got tired of looking for used as many were beat to death. This means you can get whatever you want. I got a decent smith set at the LWS for $250. I could have done a few bucks cheaper online, but not a ton, I needed it sooner rather than later, and these guys treat me right. So I got propane.
2. I can't cut with a torch for crapola, so I figured it really doesn't matter which one cuts "better". My time on acetylene was certainly nothing great...
3. I have a spare grill tank right here, and sure don't have room for yet another tank with acetylene.
4. Propane seems a bit safer than acetylene, though they are both flammable gasses that can make large booms if things go wrong.
So I got that set (Smiths Toughcut lower level line). The guy said that the only real difference was the type T hose (You can use type R in a pinch but it supposedly breaks down in a shortish time) and the tips were made from brass instead of copper (ont he acet rigs) as the flame threw more BTUs near the tip, so they needed to be brass for a bit more heat resistance. He might have been full of it on that last one, but, they were indeed brass vs copper on the same set that was spec'd for acetylene.
These things suck oxygen but use like no fuel. I went through about 3x 125 cf O2 tanks on one project, and the propane 20 lb tanks was still more than half full (then used it on the grill half the summer...). Get the biggest O2 tank you can as the refill cost is much less per unit that way. I can't fit a bigger tank right now or I would have stepped up to the next size (330cf). It is close to $40 for the O2 fill on mine, and like $60 on the larger tank. Hard to argue with those economics.
The physics indicate that there is more BTU output from Propane but a higher actual flame temp from acetylene. That is probably the difference people see on the initial preheat.
I still suck at cutting, but it works just fine overall. I know the problem is me and not the torch. Maybe someday I will get good at it, but I need room for a bigger O2 tank before I am going to spend that kind of time practicing...
My $0.02