Is there any quality difference in a business card created on p-shop and one created in illustrator (vector)?

YES...first off, business cards should be designed using Adobe InDesign, or Quark - professional layout software. If you had to do it in either though, Illustrator would be a better way to go, and export as a PDF I guess. Vector text is always going to be sharper than Photoshop text. Photoshop is not a layout program, its a raster program for raster graphics and illustration. Text will be a bit fuzzier....best to layout text in InDesign ( my preferred software over quark).....Photoshop and Illustrator are for graphics to accompany the text on the bcard - you import those graphics in. You really need Quark or InDesign to have them professionally printed, although most printers accept PDF files - which is why you COULD get away with just using Illustrator, if you had to, its just not a professional design practice.

illustrator is widely accepted by most printshops and is more user friendly than quark. export the file as a .tif, and then you have to lay it out on the page depending on how many you want per sheet of paper. the print shop should be able to help you. you need to consider the weight and content of the paper you're printing on when determining size and shape of the card too.