MPC-BE has a YouTube like preview above the navigation bar if you're into that sort of thing. MPC-HC doesn't. They're really not all that different from a user perceptive though. If memory serves correctly the guy mainly responsible for maintaining the MPC-HC decoders packed up his bat and split off to MPC-BE, and a short time later MPC-HC switched to using
LAV filters for decoding, which I prefer. MPC-HC is probably updated a bit more, but from a user perspective they're still pretty similar.
There's also
Potplayer. It's kind of like MPC-HC/BE with more options and functionality added. Many people here like it but I find it a bit bloated and prefer the more simplistic MPC-HC. I mention Potplayer as it no doubt started life based an a lot of MPC or MPC-HC code with the extra stuff added, so it's not completely dissimilar, and some people like the extra functionality. I don't think there's a portable version though.