IIRC, Git is required for Homebrew to work, so you most likely already have it. Let's ignore that for a while...
From the installer readme:
and creates a new directory tree containing
It also includes some Perl and Python stuff, probably dependencies so it's self-contained. You can use suspicious package to see what's inside.
There is no real package management, i.e. you likely need to re-download und run the installer for all updates, and the uninstaller is a very short shell script.
The Homebrew version installs to
I can't see any reason to install
I don't think there's much of a difference, although running
works unattended and is way faster and easier than
Apart from that, Homebrew currently seems to have Git 1.7.5, whereas the downloadable Git OS X installer only has 126.96.36.199