Here is a break down of the Service Release 1.2 “Standard Pool” vs "Advanced Pool"
Feature Description:
Standard Pool was introduced in SR 1.2.
Standard Pool provides better performance but doesn't support any data services like Thin Provisioning or 
Prior to SR 1.2, the naming convention was the opposite. It used to be called Standard Pool and this function used to offer data services for NAS. This is no longer holds true post SR 1.2.

Standard Mode:
1. Better performance but no data service support, including thinprovision,
snapshot, clone, replication, and NAS share.
2. Except for data service and NAS, other specifications are similar to
Advanced Pool. Standard Volume and Advanced Volume shares are the
same: RAID mode spec, LUN Mapping setting, Spare Drive setting, BGA (background activity),
behavior, dashboard information, and performance monitor.

Whats else is different?
1. Detailed differences for Standard Pool and Advanced Pool:
  • For hybrid-RAID mode (R50, R60), if the HDDs are different capacity, the Standard Pool will use the smallest disk as base for all other larger drives in the Pool.
  • Axles. While in Advance Pool, every axle can use a different base of disk size.
  • Max number of Volumes on a Standard Pool is 31. Max volume on an Advanced Pool is 32.
  • Cannot create a Volume on a Standard Pool which is in "critical" and "degraded" state.

Where in the WebPam GUI can you set the Advanced vs Standard Pool?