I guess the basic difference is this is $50 instead of $99. It also has a jog dial versus Fn keys. However, I still like the K810/811s due to the fact they glow at night with the illuminated keyboards. This doesn't appear to have illuminated keys. Oh, I forgot, this new K480 does have a slide in cradle to dock your phone and tablet. That is pretty cool except the green color doesn't suit me and I can do without the white version.
I'll probably pick one of these up as I always have a need for bluetooth keyboards.