Hi I have a 2012 Raga 280 and have just changed from a 2011 Raga 280.
The 2012 Raga has the Tech forks and a Reiger shock, I have noticed a massive improvement in suspension both front and back from last years raga which had the Marzocchi forks. I don't know why the rear feels so much better unless the forks are letting it work better but thats what I've noticed.
A friend has a 2012 280 Racing (Marzocchi forks) which I have ridden and it's a good bike but the 2012 Raga has much better suspension, Ajp brakes and clutch which I think are better and if you bend the gearbox shaft it's hundreds of pounds cheaper to fix.
Also the Reiger shock on the Raga has additional adjustment and the Raga reed block is not on the Racing although I don't know how much difference this makes.
The owner has said next time he'll get a raga rather than a racing based on us swopping bikes a lot during practising.
The Racing is probably the best value of the range, but you're comparing last years racing model 2012 with the raga which has the new for 2013 features.
Personally I'd go for the 2012 Raga over the 2012 Racing without any hesitation. You will notice the improved suspension whatever level you ride at.