The biggest improvements to the Moho 12 Freehand tool are that the tool now draws peaks properly and it's much smarter about point optimization. Here's a quickly sketched comparison in each program, with minimal cleanup:

The Moho version obviously has fewer points and they're more intelligently placed. Note especially the corner areas. The Moho version has nice sharp corners; the ASP version really has no corners at all.
Also, although it doesn't look like it in ASP, I had pen pressure enabled in both programs.
There are a few 'glitchy' things that can occur but I know the developers are continuing to improve the drawing and freehand tools as I write this. For the most part, Moho 12's Freehand tool is far more usable now than it's ever been.
Additional notes:
I normally have Auto-Weld disabled. The option has its uses but it can interfere when drawing lines that are close to each other. Depending on what I'm drawing the element for, I may have Merge Strokes on or off. In the above example, I I had Auto Close enabled for the Moho version. If you don't do that, you'll need to close and weld the shapes manually as I did in the ASP 11 version, which can be troublesome. But it really depends on what you're drawing and how you intend to use/rig the drawing.
It's worth noting that the Point Reduction code is the same as the one used for Select Simplify, so if you draw something you like but you used a PR setting that was too low, you can adjust it using the Simplify button. (If it's important, be sure to save before doing this though.)