Hi Guys! is there a big difference in wood and tone from a brown sunburst Highway one strat body and a brown sunburst MIM standard strat body?
Are they made of different woods? or are they both Alder? Different finishes?
I know of the differences neck wise, pickup wise, and I suspose maybe hardwear wise as well.
Thanks for any info!

Yes there are a lot of differences.

They both are made of Alder, but the MIM standard's body is veneered. What this means is it is 3-4 pieces of Alder glues together with a tin layer of wood glued on top. This allows Fender to pick less attractive wood that normally wouldn't become a sunburst finish.

The Highway ones is usually 3-4 pieces of non-veneered Alder

The Highway one is shot in satin Nitrocellulose lacquer, which is a thinner, less durable finish
MIM standard is painted with Polyester, which is a hard, thick finish, that is really durable