http://www.newegg.com/Product/Productcompare.aspx?Submit=ENE&N=-1&IsNodeId=1&Description=vi%20hero&bop=And&CompareItemList=-1%7C13-131-978%5E13-131-978-TS%2C13-131-989%5E13-131-989-TS&percm=13-131-989%3A%24%24%24%24%24%24%24
Deluxe has
802.11ac (the latest and greatest) wifi built in
bluetooth built in
2 more sata ports (10 total)
2 more usb 3.0 ports (6 total)
VI has a ROG audio chipset, the deluxe has the Realtek ALC1150 (not sure which is better)
I went with the deluxe. i have had the p5w deluxe (q6600) for about 8 years. has not let me down. the built in wifi has come in handy over the years since i have moved around a bit and not always had the option to hardwire.
i think the red and black looks a bit cooler, but its pretty hard to get a good look in most cases, i have a storm scout 2 and its hard to see the detail of the board, but that may change when i replace my zalman 9900max with a water cooler.
but i really doubt you will notice the red under your graphics card(s). i cant. and the red sata ports will be covered by most cases unless they have a huge window. the only red you will end up seeing (maybe, depending on your cooler and ram) will be the ram slots.
yes i am biased because i have the deluxe, but yes i have the deluxe because it is one of the best, fully featured boards you can get.