Lower RG balls tend to read the lane sooner, rev up faster, and have a more arcing reaction. Higher RG balls tend to do the opposite.
The RG is hardly the greatest determining factor. The core itself, the coverstock, the surface preparation all have just as much, if not more influence.
Differential describes, in a sense, how much taller the core is than wide. In terms of ball reaction, differential affects how much the ball flares (how far apart the oil rings are). With flare, new surface is exposed to the oil with each rotation of the ball down the lane (instead of rolling over the same spot on the ball every time). With new surface, there's more opportunity to grip the lane. There tends to be more hook with higher differential balls.
But as usual, that's not the whole story. As long as the ball flares enough to expose new surface, it doesn't really matter much if the new surface is 1/4" (lower flare) away from the old surface or 5/8" away (higher flare). There are some lower-diff balls that work very well on heavy oil (Big Blue comes to mind) and higher-diff balls that work fine on lighter oil (Havoc, Cruch Time).
SH