What is the difference between IQ-PIP Lite and MEM and SMT?

The IQ PIP Lite is more than 2,000 times faster No IQ Address DIP switches for the PIP Lite. Load Monitoring (not available in MEM) The PIP Lite Costs less than the MEM or SMT The PIP Lite does not require PIP1 SIP Resistors The PIP Lite has a Maximum Input is +20dBu resultiing in Greater Dynamic Range An IQ NetworkT Programmable Input Processor with TCP/IQ (connects to an IQ Network via 100 Mb Ethernet). Can be connected to the same network used to pass CobraNet audio. AUX connector configurable for AUX input, AUX output, or Listen Bus. The PIP Lite has: Input Compressors Multimode Output Limiters Error Reporting Load Monitoring Line Voltage Monitoring Firmware downloadable via TCP/IQ 10 Presets stored on the card Reliable FLASH memory backup of all parameters.