[zarlor]

If you compare them you'll see that Racial Properties have a field for "Racial Edge Point Cost" which, when used with building a Race in the Editor, should show the final "Racial Properties Total" when choosing a Race with the Character Builder side of Hero Lab. Not all races were done that way or were built with a mix of Properties and Abilities so the totals, when shown, aren't always what they should be (it should be +2 for a balanced race if I remember correctly).

Outside of that, however, I'm not sure there is much of a difference. Personally I generally try to use Racial Properties for abilities used in creating races and Racial Abilities for what would otherwise be referred to in the books as Monstrous Abilities. I THINK it may also be true that if you create a "Creature" character type in the character builder (as opposed to a PC or NPC) only those things listed as Racial Abilities show up as selectable on the Abilities tabs and not Racial Properties, which would further reinforce the preference I try to follow above.