I'm not 100% sure but I think the general answer is not a great deal, the quick format just wipes the fat table record so that Windows thinks that there is nothing there and can over-write. The full format option performs a scan for bad sectors and wipes the record. Most of the time you will be fine with a quick format but if the drive might not be 100% you should perform a full format.
If you have a new drive or are changing filing system (i.e. FAT32 to NTFS) then do the slow format.
If you have a drive that has already been formatted with the filing system you require then you can usually get away with a quick format without any issues.
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