Leaf mold (at least mine) tends to be lighter and "fluffier" than finished compost. Leaf mold is not a finished product of gardening (grass clippings are leaf matter so why not use it in leaf mold production?), it is faster to make and easier to use and it has lots of good things in it.
For me the difference between compost and leaf mold is the microbiome along with nutrients available.
I thought I had read somewhere that the difference between compost and leaf mould is the first is created by (mainly?) bacterial decomposition, while the second is from (mainly?) fungal action. Is that right? and does it then make sense to mix/flex the use of them depending on how you see the needs of any particular area?
And a final question, I always thought that leaf mould was quite acidic as opposed to compost, and spend quite a bit of effort raiding my woodland floor to mulch those acid loving plants I have in the garden. Is that right, but does it make sense to mulch everywhere regardless? We have very heavy (subsoil type) clay, which is gradually being converted into better soil - not sure it will happen in my lifetime, but I will keep trying as long as I am able!
Best wishes, and many thanks for all your insights, much appreciated.