Like G Rod said, the 70 is better for casting lighter baits than the 200.
I found that for me it doesn't throw a weightless wacky worm nearly as well as a good spinning reel on a 7' fast tip rod, especially into the wind, but not bad.
Tough to beat the 200 for lures like spinnerbaits and medium sized cranks, but the 70 does the job well too. Haven't tried it yet on smaller cranks, but I expect it to work well.
Smaller profile for casters with small hands.
I really like it.
Going to check it out on smallmouth in Canada in about a month.