In general there is really no difference, You will never see the difference in the power output or receive sensitivity in most real world usage. Price is about the same, $260-$300 depending on dealer and figuring in icom coupon discounts. (although I hear icom is rasing prices at the end of the month). The yaesu has more channels but for most people the 500 channels in the icom is way more than they will use.
The big issues between the two for me is the remote head. The Yaesu head/display is larger. big factor when mobile. I have the older 207h and the head will fit just about anywhere buts the display is small and buttons are little for my fat fingers. The second issue is the mounting option. The icom basically velcoro's the head to a little bracket that you mount someplace. The yaesu has a more rugged mount that locks the head to the mount point.
Its a coin toss, I have many icom's and I have been looking at the 7800/8800 for my next mobile. One last item, According the AES web site, The 208H is discontinued after current stock runs out. I dont see that anyplace else though. Ill be over at Universial radio (
www.rffun.com) tomorrow at lunch, Ill have to ask them about that. I did notice Universial web site has the 208h price way out of wack. Several of there prices are $100 high for some reason. Steve must be playing with the web site again and got something messed up.