A few differences between FreeCol's easiest Setting and Col1's easiest setting:
On the easiest setting in Col1, you get 4 grain and 3 of the secondary raw material. On the easiest setting in FreeCol, you get 3 grain and 2 raw material, which are the same setting as the second-easiest setting in Col1.
Same with the loyalty-production-decline penalty. You have to have 10 loyal colonists to get your productivity knocked down at the easiest level in Col1 and 9 in the Easy level on Col1. I'm not sure what the levels were in FreeCol, but I believe the level was 9 on the easiest setting.
Also the availability of skilled workers at the docks in FreeCol's easiest setting is more akin to the levels in Col1's Easy setting, not Easiest.