Scott pretty much nailed the jist of the difference between vaping and combustion. What youre missing is the effect that carcinogens and other poisons combustion puts into your body. If you completely stop combustion, the difference will fade and you'll experience what in my opinion is a better, cleaner and definitely more healthy effect.
Also remember vapor is not smoke. At lower temps the vapor may barely be visible but trust me its still there, the taste is evidence of that. If youre a cloud chaser, higher temps will give you what youre looking for but you will also go through your herb quicker. Most people I know start at heat level 2 and the up the temp to 3 to finish off and milk the most vapor possible out of their herb.
One more thing Ill add, find out what type of cannabis you prefer. Indica and Sativa have different effects. Indica tends to have more of the medicinal and body effects and Sativa has more of a head high. Thats a very general description but bottom line is if youre after more of a head high, try to stick to straight Sativa or a hybrid with a higher Sativa ratio. Myself, I use marijuana medicinally but I do enjoy the head buzz as well so I look for hybrids that are usually in the 70% Indica range. You can find excellent quality hybrids at the better dispensaries in Michigan, that cover pretty much any Indica/Sativa ratio you may want. This allows you to tailor the effects to your personal needs. Vapes and legalized medicinal marijuana have been a godsend for me. After years of living on narcotics for pain control, and paying the price for it in side effects, I can now control my pain levels in a much better fashion with much more enjoyable "side effects". Except for the damned munchies!