Hell yeah its better. Great great songs. The guitars you get with it are actual size, it has a lot of other bands inspired by metallica and bands that inspired metallica.
From what I know it has a great selection of some of their best songs, as well as one or two songs each from similar bands.. I recommend you look for a list and see if you like them, if so it is definitely worth the money.
I saw a list of songs but a few things are flawed. 1) No Black Sabbath which inspired every metal band and 2)No Ride the Lightning . I'm pretty sure they'll add these as DLC in the future though. 9.5/10 for song list but what about features, graphics, ect?
Personally, i'm not a very big metallica fan (but a fan at that no doubt) but from what i've heard, it sounds great. Now, i have not played it myself but I have seen the list and I agree it is not perfect but then again what is?