SAP_ALL:- Which is a composite profile, normally assigned to administrators.
To assign all authorizations that exist in the SAP system to users, assign the profile SAP_ALL.(Normally all authorizations in the above sentence means,for SAP standard objects).
SAP_NEW: - Composite profile to bridge the differences in releases in the case of new or changed authorization checks for existing functions, so that your users can continue to work as normal. This composite profile contains very extensive authorizations, as, for example, organizational levels are assigned with the full authorization asterisk (*).
Let me say wat are the few things that i know which SAP_NEW authorzation object dont have the authorization to
1. Create a user ,Changer a user's record
2. Cant create a role and cant generate a profile.
Let me say wat are the few things tat SAP_NEW authorization object have,
like access to newly created customized objects
If u have any more queries regarding the difference between these two, refer this link: -