Its the same thing. it comes with the same software, the only difference is that I believe it doesn't come with any manuals or books...anyone can feel free to correct me if i'm wrong...
I'm not 100%, as I've not got the Production Suite. But our Final Cut HD/4 Academic copies all came with the full set of manuals. But for Livetype and Soundtrack, it only came with PDF files for the manuals, so for those particular apps, you had to print it out for a hard copy. The program itself is identical, except that is says "Academic" in the About box, and you're not *technically* licensed to use it for commercial work.
I would guess that Academic comes with the full manual set as well. Otherwise, I hope they put it in a MUCH smaller box!