Materialwise. The cordura will be lighter, resist water better, be stronger, than the canvas. Some people just like canvas though, so depends if you're in the practical vs looks/authenticity camp. (though authentic isn't quite the word, because all in all that's not an old pack, and any good current hiking pack will be better unless you're going to be carrying very heavy loads, in which case you'd better look at external frame hiking packs. The "original bushcrafters" used the best of the best which was available to them at the time too.)