Frost can be more exciting to play, a bit more erratic and 'response/reflex' oriented for max TPS (Procs), frigid deathplate is a very good talent. UBA is great for threat, ass for mitigation. AE is very very solid with frost unless you get extremely unlucky on procs.
Blood runs a very rigid rotation that is tight on GCDs (Takes getting used to) but once you've got the muscle memory for it the tps is phenomenal, VB is actually a good cooldown for survivability, has more health..Hysteria is a great raid buff and more is always good.
Think that about covers it. I was diehard frost until 3.1, then ran dualspec frost and blood (Using the frost one primarily for a while, with blood more for the fights it suited...slowly shifted more and more to the blood spec. I just find it to be superior in almost any situation. I run DRM-less blood and really the only parts that suck are massive AE threat, which is workable just really irritating [It plays like a pre-LK warrior AE tanking stuff....blood boils seldomly, tabspamming stuff frequently])