I'm brand new to silicone lube...have always used water-based. Recently I found out that I could use very high quality sil. lube with very high-quality sil. toys (had always heard not to do this because it can ruin the toy, but this is apparently only when the products are of lesser quality).
Anyway, they definitely feel different from water-based. WB feels very slippery (and soon turns sticky) and the SB is more - what my girlfriend describes as - silky.