Here's my thoughts. You are welcome to edit any of this.

Admission
IPTS - You have $$$, you're in. Ada wang ada education.
IPTA - You have to compete with the whole Malaysia including those who already have contacts in the school which 99% they will be selected regardless of their results/CGPA

Fees
IPTS - 10x higher than IPTA

Facilities
IPTA - Offers more lecture halls, classes, equipments and fields for sports.

Lecture
Both depends on the lecturers, facilities, notes n etc

Strictness
IPTS - Less strict compared to IPTA (clothing, discipline, class attendance, curfew n etc)

Social
IPTS - Most are non-Malays and foreign students. More likely to talk about iPhones, Alienware, overseas vacation, LV, Prada.. u know what i mean.
IPTA - Most IPTA requires u to stay in campus during 1st year. Due to that reason, u'll be studying, lepaking, eating, shitting, showering, gaming, sharing porns, gossiping, going to class with your roomates/hostel block friends/group members.

Of course there's more to this, i'm just generalizing.

Time
It seems that IPTS has slightly more time to spent since they are not forced to join after class activities and the credit hours i believed are less. Correct me if i'm wrong.

Food
Most IPTS does not have their own cafe/food court. Even if they do, usually will be pricey.

Job opportunities and life after University/College
In my opinion this totally depends on the person itself. How u fully utilized your school's facilities, classes given and notes hand out to you. A smart person are those who can adapt to whatever situation given and knows how to make the right decision and choices with all the resources available.