My understanding is that you are dead on in regards to the mix of people who attend each. I have heard people say that the LA version (which I have never seen) is very much industry driven and more about doing photo shoots/videos than it is having a good time.

My experience with NOLA, which included several contributors from this board, is that it is just a big party. A ton of people would hang out at the hotel bar in between events. Unofficial dinners were put together by the Dommes themselves, plus bar hopping down Bourbon street once the nights official festivities evened, etc.. the camaraderie was tremendous.