Here's some good info on the topic on Champions homepage:
Guide to Spark Plug Materials
Good stuff there. Fancy electrodes just last longer.
What are the advantages and disadvantages of the copper spark plug?
The copper spark plug is the most common and cheapest plug available. While almost all spark plugs feature a copper core, many people refer to the common spark plug as a “copper” spark plug. A standard spark plug typically features a nickel-alloy outer material fused to the copper-core electrodes.
Copper spark plugs run cooler and provide more power in performance driving situations. They are often installed as original equipment in turbocharged engines and engines with higher compression ratios. Copper spark plugs are also often used in older (pre-1980s) vehicles with a distributor-based ignition system.
The nickel-alloy outer material used in the copper spark plug isn’t as hard as other metals so it wears down more quickly with the high pressure and heat created in the cylinder of the engine. Over time, this wear leads to the spark plugs fouling and not working as efficiently as they did when they were new. Due to this short lifespan, most copper spark plugs need to be changed every 20,000 miles.
What is the scoop on platinum spark plugs?
Platinum is much harder metal than nickel alloy and has a higher melting point. Since platinum is harder, it holds its sharp edge much longer than a conventional spark plug, up to 100,000 miles. Longevity is a key advantage of platinum spark plugs.
Another advantage of platinum spark plugs is that they run a little hotter, which burns deposits off the spark plug better and helps prevent fouling. Platinum also handles high heat, enabling the spark plug to wear better.
Platinum spark plugs come in two varieties - single and double platinum. A single platinum plug is much like a copper spark plug with a platinum disc welded to the center electrode; a double platinum spark plug has a platinum disc on both the center and side electrodes.
What about iridium spark plugs?
Iridium is said to be six times harder and eight times stronger than platinum with a 700° higher melting point. Iridium spark plugs have extremely fine electrodes while retaining excellent wear characteristics. Thanks to its strength, iridium spark plugs can last up to 25% longer than comparable platinum spark plugs.
Iridium spark plugs feature a fine wire center electrode that is designed to conduct electrical energy better and increase firing efficiency.
There is a price for this precious metal. Iridium spark plugs are typically the most expensive, ranging from $8 to $15 each.