Just to show there are many ways to do it.

IF EXISTS(SELECT @v1 EXCEPT SELECT @v2)
    PRINT 'Different'

There is one more option but I'm not sure whether it'll be more elegant.

IF NOT(NULLIF(@v1, @v2) IS NULL AND NULLIF(@v2, @v1) IS NULL)
PRINT 'Different!';

Try something like this:

DECLARE @v1 INT = ...;
DECLARE @v2 INT = ...;

IF ISNULL(@v1, -1) <> ISNULL(@v2, -1)
    PRINT 'Different!'

DECLARE @v1 INT = NULL
DECLARE @v2 INT = 1

IF CHECKSUM(@v1) != CHECKSUM(@v2)
    PRINT 'Different!'

Without knowing anything about the wider scenario in which this code will be used, we often use a null-equivalent value, which is a value which is valid for the datatype, but outside the program's valid range. For example, if your program is only using positive integers, using a null-equivalent value of -1 would mean that the following is possible:

IF ISNULL(@v1, -1) != ISNULL(@v2, -1) -- or COALESCE if you prefer
    PRINT 'Different!';

If the full range of integer values are valid entries, then it's not possible to use a null-equivalent value. If that's the case, there is absolutely nothing wrong with your original method.

I would advise anyone against getting too clever with things like this, it will just cause you pain later on. Keep it simple!

one more option is:

SET ANSI_NULLS OFF
IF @v1 != @v2 
    PRINT 'Different!';
SET ANSI_NULLS ON

For those who waited this long... SQL Server 2022 has finally implemented IS [NOT] DISTINCT FROM operator.

https://learn.microsoft.com/en-us/sql/t-sql/queries/is-distinct-from-transact-sql