I am preparing a research on the Bing Local ranking factors, because for quite a while I've been saying that Bing's ranking factors, while probably similar to Google's (I mean it's natural that they would use same factors, it is hard to "invent" new factors), are very different in terms of "weight". Without adding too many spoilers, here's what I think:
There are two sides to the story:
1) There are natural differences between Bing and Google such as crawl rate and frequency, crawl depth, etc., which might affect how Bing sees not just websites, but also citation sources.
2) There are different kinds of local listings on Bing - some are coming directly from Yelp, some are coming from CityGrid/InfoUSA, some are coming from Nokia (or vice versa), and of course - some are created by users. There seem to be different factors playing different role for each of these listings and their rankings.
I hope I will be publishing the findings by the end of the next month.