Since I own all four installments of the Urban Decay Naked palettes, I figured that I would do a comparison post. First I will go over the packaging differences which you can see above and below. Naked, Naked 2 and Naked 3 are nearly exactly the same in size and Naked Basics is quite a bit smaller. The Naked Palette closes magnetically and has a felt feel to the outside. Naked also has a smaller mirror. Naked 2 comes in a tin package that snaps closed and a large mirror. Naked 3's packaging is quite similar to Naked 2, but has a textured feel. Naked Basics has a rubberized feel similar to Nars' packaging.
As you can see below, Naked 3 is dramatically pink and rose-y compared to Naked which tends to be on the bronze/gold side.
While all of the light colors in the Naked palettes are different, they do look similar. Strange is the closest to Venus (NB), but Venus is less pink and has shimmer. Strange is also pretty close to both Virgin (N1) and Bootycall (N2) but they are both less pigmented.
Dust is sort of similar to Sin (N1), but Dust is much more glittery and is lighter. Burnout is warmer and less shimmery than Sin (N1).
Limit is not like any other Naked shadows because it is quite a bit more pinky purple. It's closest to Tease (N2) but they are definitely different colors. Nooner is also quite different, also being much more pinky purple. It's closest to Faint (NB) but they aren't dupes.
Buzz is similar to Toasted (N1), but it is much more pink. Trick is quite similar to Chopper (N2) but has a smoother texture and is a bit lighter.
Liar is similar to Toasted (N1), but I would say that Liar is more pink. Factory is quite like Hustle (N1) , but Hustle has a cooler tone.
Blackheart is not similar to the other blacks from the Naked palettes. It is quite a bit warmer than the other blacks and also has pink/red glitter. Creep (N1) has glitter as well, but is more of a cool, dark grey.