I have and carry both. The biggest downside of the 765, for me, is the clip design. Just doesn't ride as well for me as the Seb. But I end up swapping them each in pretty regularly. Both blades are great - and other ergonomics work well for my hand.
From my opinion the advantages of the 765 over the Sebbie are :
M390 over S35VN
Ergos in hand if they fix the sharp pointy bits at the lockbar
Better four finger grip
Easier to get double thumb studs in
Aesthetics of detailing of stand-offs, firework and jimping
Sebbie is better in my opinion on the following :
Hollow grind
Crowned spine
Smoother opening unless you prefer to flick the blade open
The pocket clip works
Biggest downside of the 765 to me is the exposed sharp point on the frame when the lock bar is engaged. It has become a deal breaker for me. As I said in another thread, I'll carry it, but not often.
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