The main advantage of an MPLS based VPN is that you can classify traffic and apply appropriate QoS to the different classes.
This type of network would be used to provide the same type of connectivity that was traditionally provided by frame relay or leased line type networks, where lower bandwidth costs and increased functionality is desirable. This is deployed over a private service provider backbone.
The type of IPSec based VPN's you describe are usually deployed over public Internet links, and offer low cost and quick installation. Usually QoS benefits are not possible over this type of network due to ADSL contention, and other factors, but its a cheaper solution.
However these technologies can be used together, I've installed several MPLS `private' networks that have IPSec to provide encryption of the end user data.
Hope that helps,
Andy