Hi! There are some differences and some commonalities. CC feature only allows one feature to be published. So, it is limited to simple sketch-based features. After you insert a CC feature, it becomes like a regular sketch-based feature. You can edit the sketch and the feature. It can be considered an automation of creating individual sketch-based feature.
iFeature is more like Copy&Paste features. You can select a group of dependent features and store them in an iFeature ide file. You can also make it a table-drive iFeature. For Sheet Metal, the punchtool is also based on iFeature with a center point predefined in it. So, it snaps to any unconsumed sketch point on placement. But, authoring iFeature is tricky. You need to understand feature dependency well so you can capture the features in an iFeature properly. Otherwise, you will run into issues on placement.
Neither iFeature nor CC Feature support replace workflow. You will need to delete and recreate it if the source feature has been redefined.
Yet, there is another workflow less discussed. You can also use Derive as a means to insert feature. For example, you have a complicated tool as a part. You can simply derive the part into another part as a new body. Then use Direct Edit -> Body -> Move (or Move Bodies command) to relocate the body within the new part. When there is change in the tool part, it will propagate to the derived part.
Many thanks!