Stephane,
That is an excellent question. First, I would say if you are happy with Mock Mail then there is no need for this Extension. At my clients on the other hand, we send lots of emails and here was my reasoning for this extension in no specific order:
1. I want my development environment to match my production environment as closely as possible.
2. With the argument for mocks...why have a DevService Postgres/MySQL database? It is because you want to test Hibernate/JPA/SQL is all working like production and mocking a database would defeat the purpose. Why is SMTP treated differently?
3. Do you write HTML formatted e-mails? If yes, a Mock will allow you to check the HTML generated but not visually inspect what the email looks like in a browser. It is why Selenium can check DOM semantics but you still need humans making sure your email "looks" like you want it to.
4. Do you use attachments in your emails like PDF files? We do A LOT and want to verify the attachment is on the email and inspect the generated PDF in the attachment.
5. Has all the same unit/integration testing capabilities as mock and MORE.
I can probably come up with some more but that is why I built this extension. I hope that helps??