The New DataGridView control introduced in Visual Studio .Net 2005 supports advanced features that was not included in earlier version of DataGrid control. The DataGridView control flexible and easier to extend and customize than the DataGrid control. I have sorted down difference between DataGrid and DataGridView control in following points.

DataGrid
– Older Introduced in VS2003
– Faster then DataGridView
– Easier to be implemented
– Slower performance in case of thousands of rows
– Ability to display hierarchical data ( This feature not available in DataGridView control)
– Cell based structure
– Fewer events supported

DataGridView
– New Introduced in VS2005
– Slower then VS2003 DataGrid Control
– Implementation not easy for beginners but expert coder will find it easy to use and extremely customizable
– Higher performance with support of more then 100000 rows
– Powerful and flexible way to display a data source, bound and unbound data together.
– Column based structure
– Number of Cell, Rows and Column event supported such as CellDoubleClick, CellValidating, CellFormatting, RowEnter, RowLeave and RowDividerDoubleClick.
– Easy to apply styles to columns, rows and cells