I was Episcopalian for about a decade before joining the Catholic Church. Here are some similarities and differences:
The liturgies are very similar. Both have three levels of clergy: bishops, priests and deacons, and both claim apostolic succession, though the Catholic Church does not recognize apostolic succession in the Episcopal Church. The Episcopal church does not recognize the Pope as having any more authority than any other bishop. Both recognize the presence of Christ in the Eucharist, but instead of defining the mechanism as transsubstantiation, they simply say that how Jesus is present is a mystery known only to God. Episcopalians normally genuflect when leaving the pew to receive Communion and usually kneel to receive.
Some major differences:
Episcopal clergy may be men or women, and they may be married or, in some relatively rare cases, practicing homosexuals.
Episcopalians leave much more (almost everything?) to the believer’s conscience rather than stating what one must believe. There aren’t precepts such as requiring attendance at mass each Sunday, etc.
Most Episcopalians recognize two sacraments and five sacramental rites rather than seven sacraments
IMHO, the English in the Book of Common Prayer is of a somewhat better quality, i.e., more poetic, than that of Catholic English-language missals. I think the Catholic missals may try to translate the Latin more accurately, though.
The Blessed Virgin Mary is not honored as much by Episcopalians as she is by Catholics Some Episcopalians say the rosary, but most do not.
Episcopalians consider themselves the via media or middle way between the Roman Catholic Church and the rest of the Protestants. Unlike the rest of the Protestants, they did not discard Reconciliation of a Penitent, honoring Mary, the Real Presence of Christ in the Eucharist, priestly vestments such as the chasuble, prayer for the dead, the calendar of saints, etc.
