When you are in love, your life becomes focused around the other person, giving no less than equal attention to that person's wants and desires in your day to day life. In general, being in love also gives you a sense of euphoria, and occasionally a feeling of being overcome with emotion and/or a desire to be with that person. In most circumstances, this sense of euphoria can truly be akin to an altered state, where you see the other person through "rose colored glasses".
Love, on the other hand, in and of itself, tends to simply be a fondenss and appreciation for someone. You may go out of your way to do something nice for the person from time to time, and would rarely turn them down for spending some time together, but you generally wouldn't plan your work week around meeting them for lunch every day, or dream about the time you should be spending with them instead of getting things done around the house.