ME or SE?
Both are designed/intended to collect data, however, similarities kinda stop here.
Historian ME (Machine Level Edition) is running on a dedicated module, the 1756-HISTxG (x = 1 or 2GB of storage capacity) and obviously can be deployed exclusively on a ControlLogix platform; the module is usually installed within the Local Chassis and provides backplane high-speed data collection from the resident CLX(s); it provides a Web interface for setup and data monitoring, however, user "data processing" could be accomplished only via client MS Excel Add-In (FactoryTalk Historian Data Link- which will "populate" spreadsheets with user defined "extracted data slices") or by "uploading/transferring" the logged data within a Historian SE system.
The Historian SE system is a full-blown database collection system running on top of the FactoryTalk Services platform and it is usually installed on a server class PC on a network location; it could collect data from any Logix class CPU using the RSLinx Enterprise data server, or from any legacy AB CPUs using a licensed copy of RSLinx Classic for data server; it could also collect any "third" party CPU data via suitable OPC data server ("connectors" are separately available for most of the available CPU manufacturers platform communications).
User "data-processing" could be accomplished via the above mentioned Excel Add-In client or via the FactoryTalk VantagePoint "data visualization" system, the dedicated Historian SE "front-end"; I believe one "named" license of the FT VantagePoint Server is included with the FTH SE install package.
If you have never installed a "distributed historian" system, I'd get help (especially for FT VantagePoint initial "modelling"); once the system is functional though, after a few basic concepts have been comprehended, the data collection system is very flexible, stable and reliable while the VantagePoint front-end could be configured for a very efficient "user data processing", including "Live Excel Spreadsheets", Trends, Plots or Dashboards.