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Sure, diff tool you need depends on what is your final task. If you need to do a version control of software source code, then it's reasonable that your compare and merge tool should have a syntax highlighting function for your programming language.
Do you need to share the results of your comparative analysis? If yes, then consider finding compare utility that has a built-in reporting function. A simple htm-like report will solve your problem and it would be easy to share this document with colleagues.
What do you compare? If you compare folders, then probably you wish to find what files have changed and the most important - synchronize them. Check if compare and merge tool you are going to purchase has this ability.
Using compare tool in documents management process? Then check if this very compare tool supports all formats that you are using everyday. Today it's possible to compare Word files, Adobe Acrobat PDF even Excel spreadsheets. If your business is about some specific format then find the compare tool that supports it.
Your job is to approve and correct changes? Find compare utility with merge function that will provide you with document audit functions.
Cost and quality - there are a number of good utilities available on the software market today. So what is the best costquality solution? Actually, software quality doesn't depends on the price, but if the compare tool costs more than hundred dollars, then you are most likely investing in a corporate oriented software. Often, these tools are focused on some particular problem, such as litigation support and target customers group.
Utilities than cost 40-80 US$ are focused on wider customer segment, suggesting more features and more file formats. Here you can expert frequent updates. Most likely authors will be able to provide quickly updates for new OS versions.
Inexpensive and freeware tools might be useful if they fit your need. It's a good idea to download and try freeware compare tool to find out what functions you need and what functions you miss. Before purchasing any tool, search for discounts that are available on the market.
Finally, we will discuss some unique features that are suggested by compare and merge programs. Ability to compare document by keywords - great, if you compare two documents that don't have a common ancestor. Three-way comparison - great, if you are a software developer who need to have three viewpoints instead of two. Compare FTP - it's related to webmasters who need to synchronize data with FTP severs. Reports - you need them if you need to share results of your work.
Before buying a compare and merge tool contact you colleague in other company from industry and find out what their company is using. Also, it's a good idea to search for some reviews of diff tools.