As Jeremy indicates the most noteable trait will be the early warning of low tank pressure. With an unbalanced reg like the Mk 2, the inhalation effort will increase slightly at low tank pressures.
When I started diving I used the very similar Mk 3 and at the time many of us dove without SPG's and relied on the increase in effort to advise us it was time to head up. It sounds bad by today's standards but it was more reliable than a J-valve, which could be inadvertantly tripped during the dive.
In terms of air delivery the Mk 2 has a flow rate of about 90 SCFM, although that also falls off a bit at lower tank pressures. It is enough air flow for diving within recreational limits (to 130') on air or nitrox. I also know a couple cave divers who use the Mk 2 at much deeper depths on helium mixes, which flow through the reg much easier than air.
The R190, R290, R380, R390 and R295 all share the same basic downstream poppet poppet design and just differ in case dimensions and features like flow vanes, anti-set switches, etc. They all deliver the same basic performance and all of them can be tuned for better performance than they usually come with out of the box thanks to EU freeflow standards that result in a general detuning of the regulator.
Many divers like the Mk 2 R190/R290R390 combinations while others like the increased performance, smoother gas flow and slightly lower inhalation effort offerred by a balanced first stage design such as the Mk 17 or Mk 25 when paired with a balanced second stage like the G250HP, S550, S600 or X650.
For most divers it comes down to personal taste, what they have dove with before and how easy breathing a regulator they prefer. I have found some customers just prefer a slightly harder breathing regulator and they will prefer a Mk 2 to just about anything else.
One advantage with the Mk 2 is that it is incredibly simple and is as bullet proof as a first stage design can get. If I were stuck on a deserted island with unlimited compressed air but only one regulator and no spare parts, I'd want that reg to be Mk 2.