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Biggest difference between cast and forged is durability. Cast parts will fracture vs bend or flex. Cast is stronger but brittle. Forged pistons are resistant to damage from detonation, preignition, & increased stresses of power adders. In street application cast parts can provide long lasting reliability. In racing or marine applications where constant high load cycling forged parts would be desirable.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.