I'm not sure technically what the difference is....but DTS sounds alot better in my humble opinion. Its always a bonus when a movie or even better a concert DVD has a DTS version.
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Dolby Digital is a 20:1 compression versus 4:1 for DTS, so DTS soundtracks can be full range for each channel if done right, verus Dolby Digital which isn't full range on every channel. But this still depends on whether the DTS soundtrack was mixed correctly.
You really need full range speakers to take advantage of DTS however since you are feeding it full range information.