I thought it would be good to create a list detailing the differences between GLOB and ONE.
Please add / edit my comments--I am a beginer. I will correct the list as I get feedback. When done, perhaps this can be added to the sticky FAQs.
Difference between One World Explorer and Global Explorer
One World explorer
Products: Economy (LONEX), business(DONEX), and first (AONEX) X is number of continents (3 to 5)
Must go around the world YES
Max segments 20
Max stopovers 20
Max Stops per region 4 [can buy two more]
Max stops at origin 2
Backtracking rules no backtracking within continents, can back track within region
Number of regions Depends on the number of continents your buy, theoretically unlimited mileage
Airlines One OneWorld metal
Global Explorer
Products: LGOLB(26,29,34,39), DGLOB34, and AGLOB34
Must go around the world: Yes
Max segments 20
Max stopovers 5, 10, 15, 15 (depending on mileage bought: 26, 29, 34, 39)
Max Stops per region 4 [can buy two more]
Max stops at origin 2
Backtracking rules same as One World explorer
Number of regions Depends on the mileage you buy, theoretically unlimited continents

Airlines One OneWorld metal + more affiliated airlines (Air Tahiti, South African, etc.)
Examples of when you would pick a Global Explorer over OneWorld:
1) To go to locations where OneWorld does not travel (i.e. Tahiti)
2) Since cost is similar to ONE4, in theory you could visit 5 continents for the price of 4 [still mileage limited]
3)