Very happy to see this topic.
When I went to a Bobcats game in 2004, I thought the old coliseum was in solid condition and still a good place to catch a game. I hated to see the thing destroyed. That said, the new arena is easily way better.
I went to a Hornets game in December 1988, and we thought it was awesome simply to have hands-free toilet flushing at the Hive. That was like some sort of space age technology.
Positives with the Hive:
Larger seating capacity, often filled with truly excited fans in the early years.
Golden Age with Jordan, Bird, Magic, Olajuwon coming to town...
It was an era when Charlotteans, and maybe people in general, could be more easily impressed and entertained. We didn't need all of the bells and whistles.
Negatives with the Hive:
Massive parking lot that could take forever to get out of. Often you had to be aggressive and cut in front of somebody to get out at a decent time.
Bad location for most of the Charlotte area. Way out of town. Not walkable to anything.
Maybe one bar/restaurant in the immediate vicinity? (Jocks and Jills?)
Very few corporate boxes for bringing in the big bucks.
Pluses with TWC arena.
Great location for a night on the town. Walkable to a great deal of other entertainment/food.
Parking is in various convenient locations. More ways out of the city after a game, allowing for quicker exits.
Way more "bells and whistles": The little court for kids to play on. The view of the practice court from inside the arena. The open bar area at one end of the court. The cool murals at one entrance. The mid level seats that give you a rolling chair and axcess to tv/full stats.
Probably better sight lines. When you sit upper level mid court, you can look down into the rim pretty nicely.
Negatives with TWC:
It'd be nice if it had a little more seating capacity, and a better team playing in it. But that's about it.
That's all I can come up with. Charlotte didn't have a lot of concentrated nightlife back in the early Hornets days. The Hornets were king in this city. I look back nostalgically on that time, but I wouldn't want to go back to it completely. It's been fun to have a more happening downtown in recent years. The Bobcats are a big part of that.