Pellet vs. Leaf - Am I doing this right?

[Quin]

...I'm trying to get to the point at which just the type of hops used is the variable so I can understand what the difference is...

Pellets versus whole leaf hops:

Pellets have more surface area once they "dissolve" into the wort - better utilization
Large batches of hops are blended, mixed, and formed into pellets - more uniform distribution of AA, oils, etc
Pellets are more compact and have less exposure to oxygen - less degradation over time

[spiderwrangler]

You can also think of it as being analogous to different grain crushes. If you were to break each kernel of barley in half vs normal milling, you would have more contact area of the starch with the liquid in the one that has been done normally. So even under an identical mash schedule, you will get more out of one than the other. Similarly, for hops that have been pelletized, the lupulin glands have been broken open and the alphas distributed throughout.