The proper answer to this is that you have to look at the tags in the BAM file, those will explain what additional information is stored for each read. For example in one file, I see:
RG:Z:797d41a8 ac:B:i,60,0,36,24 ec:f:55.0811 ma:i:0 np:i:60 rq:f:0.999997 sn:B:f,9.44502,13.8063,3.47653,6.21549 we:i:10754634 ws:i:98819 zm:i:46465666
MM:Z:C+m,21,55,4,3,12,1,2,0,0,4,4,1,2,0,2,1,0,0,3,0,0,6,3,7,0,0,4,5,2,2,3,2,18,4,6,18,9,4,3,8,8,9,6,3,5,3,17,9,1,5,7,6,2,13,3,13,6,3,1,0,15,2,4,7,0,6,5,3,4,5,1,1,7,6,10,19,10,0,1,3,1,2,1,6,2,40,9,4,4,0,6,0,2,9,6,1,5,2,6,2,30,3,9,8,5,0,0,0,0,0,0,0,0;
ML:B:C,5,19,213,3,16,0,0,0,0,3,30,137,9,20,4,5,8,2,0,8,18,100,8,14,62,230,12,3,23,135,89,201,12,2,77,4,16,185,28,8,1,18,16,215,3,17,10,6,5,75,22,123,2,7,50,42,207,1,8,0,0,23,9,117,3,21,125,13,137,54,109,31,20,81,12,15,34,1,66,8,3,17,2,19,134,193,2,1,0,2,4,0,199,2,129,10,1,11,13,111,34,7,2,61,1,11,3,26,6,0,4,1,10
it seems the largest piece of information is that of methylation tags.
I will say, though, that I was surprised that the size difference is 10x.
The additional information seems to be less than 2x more, but perhaps the answer here is that the FASTQ file compresses much better due to containing the same information.
Moved this to the answer below
Thank you!
I'd like to accept this as the correct answer if you agree to cut/paste into an answer rather than a comment reply.
PacBio describes their extended BAM format spec here --> https://pacbiofileformats.readthedocs.io/en/13.0/BAM.html
Thanks. I just re-read the document in case I had skimmed it too fast the first time, but it doesn't quite answer the first part of my question and does not provide answers for the second part.
Looks like you will lose information about kinetics/base modifications but if you only care about sequence then fastq sequence may be enough.
I am going to tag Billy Rowell from PacBio. Hopefully we will get an authoritative answer.