they both look and seem to operate the same
Maybe kinda sorta. But not to me.
One is iambic using two paddles, one for dits and one for dahs. The Vibrokeyer is a single lever key. One way is exclusively dits and the other is dahs.
The iambic key can be squeezed together and it will alternate dits and dahs until one or both are released.
Deluxe just indicates a chromed base.
A search will turn up several articles about either key, or keying methods.
I don't know of a newer HF rig that does not have electronic keying built in although they are more limited in functions than most external keyers.