Mmhh that's not the real difference Brad

Switching PSUs transform AC current to DC current by 'switching' AC current through different loops. When AC is positive it runs through the 1st loop and end up positive... when the AC is negative it runs through the other loop and it's 'reversed' so it ends up positive as well:
Code:
/\ /\ ---> /\/\/\/\
\/ \/
AC switched AC
After all that it runs through the usual filters and mosfets to get something smooth.
Switching = low cost, low efficiency, low reliability
But those are the only PSU's one can afford without spending an arm and a leg.
Other PSU's are 5x more expensive and bulky but pack lots of punch, and voltage never drops when current load is high. they are based on *series* of transformers and use very progressive transformations of sinus to line (triangle, then square, then line)
Code:
/\ /\ ---> /\ /\ --> +--+ +--+ --> ---------
\/ \/ \/ \/ | |__| |
sinus AC triangleAC
(well imagine a sinus in ASCII :)
There are even more elaborate manners of producing DC current, but i will not overload this forum with tech babble