Thought I would do a comparison to see how the two versions stack up.

Check out my other Raspberry Pi comparisons:
Raspberry Pi vs Chromecast: http://youtu.be/TRJY3AOqVHw
Raspberry Pi Compute Module: http://youtu.be/6lPe5oxNOI4
Raspberry Pi Model A vs Model B: http://youtu.be/mty2xC9TDKY

Get a Raspberry Pi 2B: http://amzn.to/1zJlP9L

To see my other Raspberry Pi projects:
Outdoor Automated Lights: http://youtu.be/xc1daIb1LVc
Garage door remote: http://youtu.be/p2abZ90-eU0
File Server (NAS): http://youtu.be/fGYCrYT114o
Weather Station: http://youtu.be/dRT39e3PQrk
Raspberry Pi Bitcoin miner: http://youtu.be/U2_tFci61PE

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Raspberry Pi Compute Module 3 (CM3) targets on consumer products

Sort of announced in July 2016, the latest Raspberry Pi Compute Module 3 (CM3) is assumed to go to the market fastly. Last October computer equipment company NEC previously announced a new spread of professional P and V Series large format displays that smoothly embed the RPi CM3 module. The new module, offered in two versions – CM3 and CM3L (lite) – will complement the CM1 module released before.

Specifications for the CM1, CM3 and CM3L SODIMM modules can be obtained from the data sheet found on the RPi web page
https://www.raspberrypi.org/documentation/hardware/computemodule/RPI-CM-DATASHEET-V1_0.pdf
. Where the CM1 was based upon a BCM2835 CPU (as used on the original RPi and RPi B+ models), the CM3 posesses a quad-core 1.2 GHz BCM2837 processor, just like the RPi 3. It offers 1 Gigabytes of LPDDR2 RAM and 4 Gigabytes eMMC Flash. The ‘L’ version is a CM3 free of eMMC Flash, allowing the owner to connect his/her own personal SD/eMMC product. The pinout of the CM1 and CM3 modules are identical but the CM3 module is one mm higher (31 millimeters).

Pricing

The money necessary for the new modules isn’t known yet, but since a CM1 retails at about £20, a matching price may be anticipated for the CM3.

Based on : https://www.elektormagazine.com/news/raspberry-pi-compute-module-3-cm3-to-hit-the-market-soon

Technical Specs

The CM3 is founded upon the Raspberry Pi 3 hardware and is meant for industrial use in order to give a inexpensive option for individuals to make tailored products based upon the Pi hardware and software system. The Compute Module line is smaller sized and has less capabilities and ports than a standard Raspberry Pi, making it ideal for Internet of Things (IoT) products.

“The module has a standard DDR2 SODIMM form factor, sockets for which are made by a few makers, are easily available in the market, and are inexpensive,” Raspberry Pi COO and hardware lead James Adams claimed in a blog post.

You will find 2 versions of the CM3. And listed below are the technical specs for both of them:

Standard Variant:

BCM2837 processor chip at to a maximum of 1.2Gigahertz
1Gigabyte RAM
4Gigabyte of on-module eMMC flash

Lite Version:

BCM2837 processor at to a maximum of 1.2GHz
1GB RAM
SD card interface on Module pins consequently a customer can wire it up to an eMMC or SD card that they decide on

Both variants can be slotted into a newly released Compute Module IO Board V3 (CMIO3) which lets you execute the following:

Provides necessary power to the CM3
Helps you to program the CM3 Standard’s flash memory or to use an SD card on the Lite version.
Connect to the processor interfaces in a slightly more friendly fashion (pin headers and flexi connectors, just like the Pi)
Supplies the necessary HDMI and USB connectors allowing you to have an complete system that can boot Raspbian (or maybe the Operating system that you choose).

“This board gives you both a starting template for those who want to design with the Compute Module, and a quick way to start experimenting with the hardware, and building and testing a system, before going to the cost of making a customized board,” Adam said.

The older Compute Module model will continue to be provided, for those who do not require the CM3’s performance boost. Depending on Raspberry Pi official magazine The MagPi:

“With some caveats, the CM3 can be used a drop-in replacement for the CM1 being that they are pin compatible; the CM3 is 1mm taller, on the other hand, while the CPU can pull a lot more current from the VBAT power line and will eventually produce a great deal more heat under heavy load.”