The biggest difference between creating site content types versus list templates is the ability to add additional columns to multiple lists after the lists have been created using the same site content type.
For example: If you have 500 lists, and you want to add one additional column to all 500 lists, it’d be a pain in the butt to individually add one column to each of these lists. BUT – using site content types would give you the ability to add the column to all 500 lists – as long as they are created using the same content type.
Caveat to Note: To add the additional column to the 500 lists, you must first select “Apply to All Lists & Libraries” THEN add the column to the content type in SharePoint Designer
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SharePoint site content types are a powerful tool used to create a working template for lists and libraries in SharePoint 2010. Site content types are easy to create, but does require basic level knowledge of SharePoint Designer. Luckily, though, it is easy to learn how to create site content types – even for those with little to no experience with Designer.
