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Only difference would be things like side chain compression preventing you from freezing the track.
In order to get around the sidechaining thing, I always have my midi tracks in a group and sidechain the group. That way you can freeze an individual midi track but still keep your group (or bus) sidechaining.
If you are into resampling, you can go one step further and flatten a frozen track. It is an amazing time saver that I recently found out about. When you freeze a track, Ableton kind of hides the audio clip in it's files so when you flatten a frozen track, it completely changes the midid track to an audio track and prints the audio clip so you can further process it. The only down side to this is that it replaces the midi track with a new audio track and you lose all of your FX. You can undo it but eventually you can't go back. It is good for resampling though.
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