Well, one major difference is that "real" history, ie the events that have actually occurred in our past, has had a very real effect on the way that we live our lives today. Of course, fictional history can affect us too, as individuals, but not in nearly so concrete, significant and widespread a manner.
Another key difference that occurs to me is that real history is rarely "high, purged of the gross".
That said, "perceived" history can sometimes be just as fictional as Tolkien's created history.
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Do you mind? I'm busy doing the fishstick. It's a very delicate state of mind!
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