Difference In Hackles?

I have been shopping for hackle and while not that new to tying, this
is the first time I've bought hackle. Can someone tell me what the
difference is between Hen and Rooster hackle? I assume that Hen is
softer and probably used for wet flies/nymphs and that Rooster is
stiffer thus more suitable for dry flies. Correct? Also what is the
difference between Capes and Saddles? I mean other than what part of
the chicken they come from. Also, being a college student, I am a
pretty budget minded tyer. I would like to know, if anyone can tell
me, how much I would be sacrificing if I got a "Bronze" as opposed to
"Silver" or "Gold" grade? I think I've read somewhere that each
company has it's own method of grading so for sake of argument let's
stick with Whiting for comarisons. Well, I think that will do it for
now. Any advise would be greatly appreciated.
Regards,
Daniel