To add additional clarification, the server pack (ostensibly) cuts client-side modifications (InvTweaks, Rei's, NEI plugins, et al.) and has the potential to include mods that provide server-only functionality (I presume something emulating bukkit-style server administration, for example). This reduces the download footprint, initialization time, runtime footprint and makes the server run more smoothly (ever try running a server with Rei's or InvTweaks accidentally included? Last time I did that I got a lovely FML crash log regarding how the modification expects side CLIENT, etc.). There are also the little quirks to keep in mind, for example where PortalGun actually uses a differently named file for its server-side configuration and that doesn't necessarily need to be pushed to the client.
The server pack is also put together so you can upload to a host and run through a shell or other wrapper for minecraft management as opposed to using the launcher, but I'm sure anybody who has run a server is aware of that tidbit and the difference (and if you aren't, you may want to read up on running a minecraft server period).