In a nutshell: a 200gsm plain weave carbon & a 200gsm plain weave fibreglass both weigh 200gsm, but the fibreglass is many times more flexable than the carbon, so you would need multiple layers of fibreglass to have a similar rigidity as carbon.
These multiple layers make the fibreglass weigh more.
Hand laying or "wet layup" gives a very bad fabric to resin ratio, making it prone to cracking under stress conditions.
The excess resin is like a piece of glass that when you flex it too much it cracks or shatters.
Vacuum bagging (pre-preg or resin infusion) creates an environment that gives a dramatically better fabric to resin ratio, which is far less prone to cracking when put under stress.
The type of resin you use is very important, the main 3 types are:
Polyester Resin
Vinylester Resin
Epoxy Resin
Polyester is a budget resin designed for making a low stress product from a mould.
Vinylester is designed for high quality products made from a mould & for some repairs. This resin has good impact resistance.
Epoxy is designed for high quality products made from a mould, repairs & bonding. Some epoxies have high impact resistance. The main advantage is that epoxy is also a glue & besides wetting out the fabric it also bonds or glues the layers of fabrics together.
Epoxy reduces de-lamination, where other resins are prone to de-lamination under severe stress conditions, even though they have high impact resistance.
All types of resins are available in different levels of quality, just because something is made out of epoxy, doesn't mean that particular epoxy has high qualities.
Some epoxies can have up to 3 times the tensile strength as the other (especially if you have your resin made for your application), this means you can have less layers of carbon, but still have the same strength as a product made with a lower strength epoxy that has to use twice the amount of layers.
This obviously gives you a very strong, light product.
The disadvantage with these high grade epoxies is they are many times more expensive, need to be used under vacuum & need to be baked in the mould to acheive it's full potential.