[dba-SQLServer] SELECT INTO Versus CREATE #temp

>From a practical point of view, it would seem that these two commands are
equivalent:

SELECT * INTO #tempTable
FROM somewhere
WHERE someConditionHolds

CREATE #tempTable ( field list )
INSERT #tempTable ( field list ) SELECT * FROM somewhere WHERE
someConditionHolds

Are there performance differences or any other reason to choose one over the
other?

Arthur