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You will find that both programs have about the same amount of motion control and filters. Premiere Pro is as powerful as FCP, which is more powerful than Final Cut Express.
So far the only predominant difference (other than preference) I'm seeing is that FCE and FCP have the ability to switch formats mid project while AP does not.. Are there any other major ones?
There are not as many differences between FCP and Premiere Pro as you might think.
Premiere Pro allows you to edit audio at the sample level, rather than just the frame level. I don't think FCP has caught up.
I am not as familiar with FCE as will FCP. I don't know what they left out.
FCP includes a quality intermediate codec that costs PPRO users about $1000 to add on.