Okay...
The creed has the letter F AFTER the hyphen. If it's before the hyphen, it's simply the month it was manufactured.
The creed shouldn't have a bullet stamp, but some outlet employees are bullet stamp happy, so it's possible a MFF bag will have one.
They are usually less expensive than retail stores, but not always. Also, they are often more expensive (at least when first introduced) than boutique transfers to the outlets.
On some bags, the quality is noticeably different. On others, not quite as much. Usually there is less hardware, the leather is not as thick, and the lining is different. Taking the original Ali vs the MFF Ali as an example:
original: very thick and heavy leather with a matte finish
MFF: thinner leather with a slight shine to it; doesn't seem to patina the same as the original version
original: antique brass hardware
mff: bright brass hardware
original: Legacy stripe lining
MFF: signature lining in a solid color
original: medallion along with hangtag
MFF: hangtag only
original: thick strap to distribute weight of the bag better
MFF: thinner strap