The lever for lifting and dropping the arm on the VTA is a little nicer, it is made of all metal rather than plastic. The two tables sound pretty much the same stock. With the VTA you have the ability to try more different cartridges as you can align the tonearm vertically for a cart/stylus combination that is a different height than the AT VM series. If you wanted to try the same cart on the LPW40WN you would have to try using a different mat or shims on the cart screws to attempt to align the tonearm correctly. Other than that they seem totally the same.
Bottom line: if you don't think you will mess around with styli outside the AT family much, the LPW40WN is a cheaper option that gets about the same sound. Especially if you can find a refurb or used model.
I do own both models, but haven't been able to compare them on the same gear.
The mechanisim to move the arm is mechanicaly connected to the tonearm and affects the ability of the arm to move freely. There are ways to do this without a mechanical connection, but it is expensive to implement. Some people use an auto lifter that only makes contact with the arm at the lead out grooves. The record keeps spinning, but the cartridge is no longer in the groove, such devices are typically $50-$100.
The belt vs direct drive argument is that a belt passes less motor noise to the platter, and that a belt averages out pulses in the motor, reducing flutter. Quartz lock requires a direct drive, otherwise the servo is always chasing the stretchy belt, and is unstable. There are some very good quartz lock direct drive units avalable, but all are above $1000.
This is a belt drive manual because it gives the best sound for the price.