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The RG655 is discontinued but I remember a few years ago it was popular and around $1200 for a new one. The RG550 costs $1000

What are the difference between these guitars in terms of material and quality or are they exactly the same?

I know the RG655 came with case and it was officially in the prestige line, the RG550 is a prestige too apparently, the box it comes with says prestige but is a new line they created Genesis probably to make it more affordable they ship them without a case and all at 1k
 

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Like you say, no hard case with the 550, some will say inferior pickups in the 550, no AANJ on the 550. Other than that.... not much.
 
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