.EQ
G(z) ~=~ e sup { ln ~ G(z) }
~=~ exp left ( sum from k>=1 { S sub k z sup k } over k right )
~=~ prod from k>=1 e sup { S sub k z sup k /k }
.EN
In TeX mathematical notation: $$G(z) = e^{\ln G(z)}
= \exp \left( \sum_{k \geq 1} \frac{S_k z^k}{k} \right)
= \prod_{k \geq 1} e^{S_k z^k / k}$$
The TeX is a bit more terse, especially in using ^ and _ for super/subscript instead of sup/sub. That can make a big readability difference in things like simple polynomials; a^2 + b^2 = c^2 is just that in TeX, but a lot more wordy in eqn. The troff/eqn looks a bit less like line noise, though, especially in things like "from" in the summation, and >= for \geq.Though really I'd guess that TeX's math notation caught on as the de-facto standard for "ASCII math" because TeX as a whole caught on, rather than because of its ASCII-math representation being better.
Not necessarily a feature. The eqn syntax does contain more letters and less symbols, but that gives it very low contrast, making it hard to scan the equation and "see" the math symbols through the formatting. When writing a large equation, it helps to have a large contrast between words/symbols and formatting commands. The TeX punctuation helps with grouping and delineation.
While I was working at one firm I got own department. I wrote LaTeX class for them to support corporate style. After 1-2 weeks they noticed it was the same if not better than MS Word for documentation.
I don't know of any alternative solution that is as easy to use and produces a high quality document.
I know I spent a lot of time with qtree, gb4e, and pstricks.
`integral cos(x)*e^(2x) dx` or `sum (x^n) / (n!)`
edit: added simpler examples
Modern TeX/LaTeX packages for distros these days are huge though, in comparison to the stuff that came on a single floppy when I first learned to use it.