Having played the Beta it comes down to:
LS Smuggler: While they call themselves a smuggler they do have lines they wont cross, and actually do have a heart of gold :ie Episode 6 Han Solo and Lando
DS Smuggler: Money, money, money, me, me me! Does what they have to get some more credits, and really puts themselves or ship first: ie Episode 4 Han, and early episode 5 Lando
Pretty much a LS smuggler is Malcolm Reynolds, while the DS smuggler really does come off like a criminal.
LS Bounty Hunter: Cares more for the hunt rather than the kill, and is more about the honor of the trade than the credits of the trade: ie think Old West BH who works on always bringing baddies to trial.
DS Bounty Hunter: Will kill or capture anyone for their job, and really does at times come off as a psycho for hire: ie Jubal Early from Firefly
Really LS characters are people who hold to honor and do what they feel is right.
DS characters do what they are told, and actually have more loyalty to their employer.