Side-by-Side Comparison: http://www.newegg.com/Product/Productcompare.aspx?Submit=ENE&N=100007627%20600007887&IsNodeId=1&bop=And&CompareItemList=280|13-131-666
Formula gives you more slots / upgrade path with multiple GPU's.
They are equal in looks... IMO
Price... Formula is the better price for features than the Gene... IMO
Overall, the Formula is the better board for extra $50, unless you are only going to run a single card setup, with the Gene is the better option (Actually, the Sabertooth X58 is the better choice!!)