There is some weight differences in the fabrics, taffeta being the heavier of the two, not sure of the exact differences but it seems somewhat negligible to me unless you are a ultralight backpacker. One big difference is that Ripstop Nylon has cross hatch threads in the weave that helps prevent tears from "spreading" increasing durability. The taffeta materials are often used by some manufacturers of hammocks. Not sure if there is a "ripstop taffeta" out there or not.
Actually you are correct about these being the coatings. And while doing my research I have found that tafetta with a DWR coating can be as little as 1.3oz per square yard where as coated ripstops even if advertised as 1.1 are typically 1.3 at minimum. Since I have started making gear I've been learning a lot about different fabrics and such. Rip Stop Nylon is the more durable of the two without any doubt.
Is there Ripstop Tafetta? I happen to have about 40 yards of 1.1 oz ripstop nylon (non coated) that I have been making hammocks out of, and about 30 yards of just nylon tafetta that I will be making tarps with. Both feel exactly the same except one just has ripstop grids sewn in. So I think the answer is yes.
The difference is apparently negligable over the long haul. Ripstop barely winning the popularity contest for home gear makers because it will in fact last much longer than regular tafetta typically will because the damage will stay local to a small area and is easy to repair.
There is also different types of tafetta, Nylon Tafetta, polyester tafetta, silk tafetta etc. Since my tafetta, and my ripstop feel almost exactly the same and are both Nylon, I'm going to assume that my ripstop is nothing more than Nylon tafetta with a ripstop grid sewn in.