Pina Colada is a less vigorous tree. They do taste different, with PP having a much stronger Pineapple and acid component. PC is richer, and will make you sick if you eat too many. PP is also a much larger fruit with better flesh to seed ratio. Both have awful disease resistance at the bloom stage, and make ugly looking fruit (not that that matters).
PP also seems to have a problem with abscising fruits that are up to baseball size. A shame because it's outstanding flavor.