right, i always think of pave as teeny diamonds pressed into the metal like a paved road, with very little metal showing in between so it''s like a road of sparkle. whereas, i think of bead set as using slightly larger stones, with them all set in a single row -- sometimes between two metal edges (milgrain). i think the former has a more modern look, and the latter a more antique look.
the stones in my setting are bead set; you can check it out here.
hope that helps!
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