Hi
The OSJTAG is integrated into the board and so cannot be easily used with other boards (or your own designs).
The J-Link Lite is a dongle so can be used with any boards.
The OSJTAG is generally slower than the J-Link Lite but if you use Rowely Crossworks there is a replacement driver that they supply which speeds up the OSJTAG (several times faster in some cases), thus making any speed differences minimal.
Note that there is a new, unopened TWR-K60N512-IAR Kit available at a discount price here: http://www.utasker.com/shop.html in case you decide that you need one :smileywink:
Regards
Mark