Filter lists update only when the extension updates, no fetching up to date lists from servers (this is a big one!)
No custom filters, so no element picker which allows you to point and zap
Many filters are dropped at conversion time due to MV3’s limited filter syntax
No strict-blocked pages
No per-site switches
No dynamic filtering
No importing external lists
Ah, so uBOL does have the ability to adjust the blocking level on a per-site basis, which is what I assumed "per-site switches" meant. I see now that the original uBO has/had a more granular level of configuration available. (Which I suspect most folks never used, but still... my bad there.)