Well, I'm a street dancer (not literally on the streets, in case you don't know. A street dancer dances hip hop, popping, breakdancing, etc.). I've been doing street dancing for nearly 10 years now. Anyways, I don't really know much in the ballroom category...But I did some research and found some links:
•http://www.danceshoesonline.com/catalog/dance_shoes.html
•http://www.showtimedanceshoes.com/men.php
•http://www.danceshopper.com/ballroom-dance-shoes
•http://www.dancesavvy.com/index.php?target=categories&category_id=7
•http://www.tangorougeballroomdancewear.com/page/men's-dance-shoes
•http://www.ballroom-connection.com/xcart/home.php?cat=6
I've also done ballet and jazz, and I've learned something. This for ANY kind of dance shoes: The material matters. Leather is the most sturdy, and lasts longer, however isn't ideal for outdoors. Canvas lasts too, but isn't ideal for some genres of dance. Satin is for pointe. I think leather works for ballroom (patent leather or regular leather, or both)!

Which, of course, you probably know.
Another thing that might help: The difference between the two, are that Latin shoes have a higher heel. Latin shoes also are most likely to have a split sole to create a pointed toe, for Latin dancing. Standard ballroom dance shoes are made for a variety types of ballroom dancing: rumba, waltz, swing, etc.
Since I'm probably no help lol, I suggest you consult your dance teacher, or someone who professions in ballroom dancing and ask him/her which one is better and suits your personal preferences.
Hope I helped,
Amethyst ;D