My Elna 7200 Quilters Dream Pro was made by Janome. It is a very close cousin to the Janome MC6500p and MC6600p. I just looked up the Elna 740 eXcellence and I would say it is a very close cousin to the Janome Horizon 7700. I was actually looking to purchase the MC6500 when I bought the Elna 7200 but all of the Janome dealers I talked to either wanted too much or didn't know $hit from apple butter about the machine. Then I learned about the made by Janome, Elna 7200 and found an Elna dealer that was asking a reasonable price and was actually using the store demo to quilt on and I was SOLD! IMHO, if you can find an Elna or Janome dealer that is fair & knows what their business--buy your new machine & keep your old one for a backup. I have a Singer Quantum Futura for a backup and an older mechanical Euro Pro that I use for traveling and as a backup to my backup!