RB is pretty powerful. There's many features in there that I've never touched. But there are things that can be pretty difficult to do. Although, many of those things can be solved with plugins. It can build for OS 9, OS X, and Windows. The one major drawback is it's slowness. The interface is abysmally slow. For example: check out Macintosh Explorer. It's an application created with RB, and it's abysmally slow. Scrolling in text-only list boxes is very slow. Plus RB is quite expensive.
The Dev Tools are free. That's always nice. There is much more power, but the language--while similar to RB--is much more difficult. With RB, I figured out the language using only the online documentation. No-go with the Dev Tools. I needed to buy a book before I ever really got the hang of it. The graphics layer looks much nicer, with built-in support for advanced drawing features such as bézier curves, image opacity, and antialiasing. Those things are possible in RB, but there is a lot of work involved in it. There's no built-in 3D engine or sprite engine like there is in RB. The interface is much more Snappy that RB, plus it looks nicer.
Anyway, RB is a great way to create programs quickly and easily. There are many built-in features that the Dev Tools don't have and there are a few features in the Dev Tools that aren't in RB. The Dev Tools are more difficult to use, but projects created with it, in my opinion, will look better and run better than any created with RB, although they won't run in OS 9 or Windows.