The Z Play obviously has better battery life and better recharge speed because although similar, you get more juice out of a charge due to Z Play's bigger battery.
Looks are subjective but my friends all prefer the Z2 Play's looks vs the Z Play.
Camera is better on the Z2 Play. Same goes to the in hand feel due to its thinness. I also prefer Z2 Play's metal back in comparison to Z Play's glass back. I find the one hand gestures to be very useful but it did take me a few days to get used to it.
Audio performance is similar to my ears. Z2 Play has stronger audio jack though, at least from what I can hear.
Other than that they are both very good Moto phones.