In theory, the answer is no. Liquid, cake or dried yeast are each presentations of the same organism in a form that is convenient to different applications or scale of production. In practice, fresh yeast may provide the smell and taste you are missing. The smell of fresh cooked bread (and colouration) is the Maillard reaction of the cooking crust.
They should be the same, however, there are different types of dried yeast. Active dry yeast, Instant and "rapid" or "quick". For the most part they are interchangeable but really should be used as intended.
With dry yeast the words proving or proofing are often used in error when what is actually occurring is hydration, unless a little sugar (or flour) is added. Then you have both. Basic Active dry yeast needs to be (can benefit from being) hydrated before use, whereas Instant and Rapid don't. The latter was developed for bread machine simplicity containing enzymes allowing for single rise. In fact proofing Rapid rise may prevent it from doing the job properly. Fresh liquid and cake yeast, if old, should be proved / proofed to check viability. The scale of ingredients used in bakeries is too big to chance using dead yeast.
Out here fresh yeast is really only available commercially now.
Proving / Proofing: While it is probably correct to believe that the word proving was originally used to describe "testing" the viability of yeast, it has evolved into proofing which has different meanings now in baking. While it can still be in reference to testing viability it also has a different use. The use of proof boxes and the process of proofing is also in reference to the rest periods in bread production where rising is taking place prior to baking. Yes, there is confusion and disagreement.
