Yes, the bridge rectifier has two diode drops and the center-tap full-wave circuit has one diode drop. But the center tap uses the transformer less efficiently since only half the wind is conducting at a time. That generally means a larger transformer for a given power output.
One interesting option for the center-tap design is that you can use two sets of diodes, one to generate a positive voltage, and one set to generate a negative voltage, handy if you need a plus and minus supply. A bridge rectifier can be used to provide the two sets of diodes by just grounding the center-tap and connecting the bridge to the two winding outputs.