The boost upgrade kit comes with a solenoid map sensor valve, which allows you to modify the pressure feed that the map sensor sees (overcoming the boost limit) and a gated adjuster valve to control the boost level to the actuator on the turbo. The boost controller is a 2 way boost level (standard and high boost), but you still need the solenoid map valve to raise the boost level above the factory limit.
The 'chip' does the same thing electronically. It still comes with the gated valve to adjust the boost level at the actuator, but it modifies the map signal electronically by wiring into the ecu. The benefit of the electronic version, is it is very accurate, and the manual unit needs a few test runs before correctly setting it up (and it helps to have a boost gauge) but both units do the same job
Keep your eyes peeled, as both these systems will be coming down in price considerably in the following week, due to new suppliers/manufacturers