This is a great site to compare Space Mountains. Some info hasn't been updated in a few years, but most (especially history) is good...
http://www.ultimateorlando.com/archive/space/
Disneyland has the newer, different, and (IMO) better track. Even though the building is smaller (I think 200 ft vs 300 ft diameter at WDW), the ride is longer because there is only one track at DL and two at WDW. The two WDW tracks are nearly identical mirror images, except where the tracks have to cross each other.
The mirror image track layout is similar to Matterhorn. I think the idea was to bring a Matterhorn-style attracation to WDW, but to put it indoors to protect it from Florida rain, or at least I have heard this as Disney lore... The WDW version feels more jerky than the DL version. That's one of the reasons I don't like it, because my knees are banged up at WDW Space Mountain just as they are on the Matterhorn.
One other interesting difference, Space Mountain at DL is sunk into the ground (as is Soarin' and Tower of Terror) so as not to dwarf other park features such as the castle. Nothing in Florida is sunk underground, as the scale of the park facilities is larger at WDW, and the high Florida water table doesn't make the basement construction feasible.
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