Difference between MTM & CodedUI record & Playback feature

I am exploring MTM now a days. I came to know that MTM also has Record & Playback feature. I would like to know following things.

1. What is difference between both and which record and playback is more powerful and why?
2. does MTM Record & Playback perform actions based on co-ordinates i.e. X & Y?
3. What are disadvantages of MTM Record & Playback?

Thanks,