I doubt there'd be any noticible difference. Even in the 12VDC model it may be that all the chips were rated 5VDC and there was a regulator to reduce the 12V to 5V. So it could be that it's just cheaper for them to now go with a 5VDC adapter and leave out the stepdown circuitry.
daveinpoway Premium join:2006-07-03 Poway, CA kudos:2
After contacting Netgear Support, I still haven't been able to determine which model is older. I did get their price for the 5V adapter (the switch I bought was missing the power supply), but I want to rig up a 5V source and make sure that the switch works before buying a power supply for it. Out at the swapmeets, I constantly run into 5V AC adapters, but nothing in the 5A range.