I use both products with a polishing pad, though some use the MG with a finishing pad for a final buff.
IMO they are very similar. I can't discern any real difference in abrasiveness, but if I had to I pick one over the other I'd say that the #80 is, initially, a bit more aggressive. Both break down to a ready-to-wax finish on most paints.
I prefer the MG for use by rotary as the #80 by rotary seems to break down a bit fast and gum up the pad a little. IMO the #80 is best by PC/Cylco/hand while the MG works with any machine or by hand.
I also prefer the MG for jobs where I'll be going over the panels numerous times with the same product. The MG just seems more suited to this whereas the #80 works great as a one-pass product. Perhaps the difference is in what they do/don't leave behind.
The #80 seems to leave more behind. Not so much fillers, but probably just the (very light) protection that's still new-paint-safe. The MG doesn't seem to leave much, if anything behind except its own residue.
The MG *will* occasionally leave a residue that's hard to buff off, usually when used over KSG or other LSPs that are still in good condition. Not a real problem if you use AIO for a cleanup, and it doesn't happen very often, but such things haven't happened for me at all with the #80 which always wipes off easily and cleanly.
Bottom line- I have both; If you only want one, you'll have to find which one works best for you.