Grudge Match: Grub vs Lilo

So I just installed RedHat 7.2 and it installs Grub instead of Lilo (it's an option). What the heck does Grub do that lilo wont do? I've been using lilo faithfully for a year or so and never had a problem. It's a boot loader, all I want it to do is give me the option to load a couple kernels. Does Grub offer some better features or something I'm missing? Did lilo really need to be improved?