I haven't used zumodrive but I'm soooooo impressed with Dropbox.
One fundamental difference is that Dropbox syncs things between drives and cloud. Zumodrive only uses your local machine as cache. The difference is when you have 20 gigs in the service, a Zumodrive doesn't actually use up any of your HD space. On the other hand, you don't have to be connected to the internet to see/edit your Dropbox files, only to sync.