Difference between new GL & Classic GL

Hi

I request everyone to help me understand the difference between new GL and Classic GL.

Basically a new GL has following features:-

1. Segmental Reporting

2. Parallel Currencies

3. Generation of Balance Sheets @ Profit Center Level

4. Legal Consolidation

I believe all the above features can also be achieved in Classic GL.

Also what is the difference between Business Area & Segments?

Pls help.

Thanks,

Srikanth