Stu - it has a different Lens. The 750 is usually about 50quid dearer than the 700. It also has a couple of extra tricks in the software - but i cant remember what they are. I havent done any back to back testing yet of 700 and 750, but on paper the 750 is superior. I will say that it's the lens that counts on a camera, far more than the pixel count. Unless ur blowing it up, or printing over A4, onve u go over 3m pixels, it's purely a numbers gain.
If i had to buy a canon myslef, it would be the ixus 50. It's smaller than the 700/750 and 5 mega pixels is easily enough for me.