Just a quick glance at some of the WC.out-lawz.com(for future reference, it's called Weapon Creator) Features:
Custom Crosshairs and bullet holes (Not in WCS, as far as I know)
Automatically generates the ammo.fpe, gun.fpe and the Gunspec file
Copies all meshes, images and script files to the correct directory
As far as I know, none of the following are in WCS, but they are in Weapon Creator:
Custom smoke, bullet shells
Custom Scripts
Custom Themes (Usefull for organizing weapon packs)
NEW--Rotating of you weapon in the Hud positioner (Recomended only for template generation, as any animation and texture data is not saved.)
#NEW--Custom Muzzleflash