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Terminal services still has not caught up to Citrix.
If you want true load balancing ing TS you still need to purchase a seperate program like WTS-Gateway. Also the tools for administering Citrix are far more powerful that TS. A simple example is relpicating a printer driver across a far of servers. This can be done from a single window with a few mouse clicks in Citrix. Not so in TS.
Citrix also behaves better over limited bandwidth. The packet sizes are smaller and the screen redraws are much faster.
Both are fairly secure unless you want users to access your farm from the internet. Citrix still has MS beat with the Secure Gateway. MS is suppsed to improve this in the next release.
On a bad note though, You still need to purchase a TS CAL for Citrix and then get the license from Citrix. Like Microsoft Citrix thinks that their licenses are gold plated or something. Unless you have a lot of users or a large farm to administer Citrix doesn’t make sense for the $$$.