I recently purchased an FG730 to compliment my beloved FG700. I had never thought of it the way you put it that the FG700 might lean more toward a mahogany guitar sound, but I guess it does.
I think - in my case anyway - the FG700 has better note separation and is not as muted (for lack of a better term) as the FG730. The FG700 is definitely brighter which I prefer since I strum with my fingers. In comparing my two guitars, the FG700 has nicer overtones and the bass response, when I dig in, puts a huge smile on my face.
The FG730 is a much prettier guitar and it is rich and warm. I still prefer prefer the FG700 over its brother. YMMV. -Toby
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