In this case, where the 760 is a Turbo, the differences are mostly minor. (if it wasn't a Turbo, it would have a totally different engine) As you observed, it has the late style dash and the front end with fog lights. It also has power seats, automatic climate control instead of regular heater controls and an electric sunroof instead of a crank. probably also power mirrors, maybe heated as well. If it were a sedan, it would have independent rear suspension, but wagons kept the straight axle for several years longer.

For the most part, the 760T is comparable to a 940. Assuming it's in good shape, and you like the high-level interior trim, it's well worth considering (and not very different under the skin from the 745 you had)

The M47 is not a good choice for installation in a Turbo, as it doesn't stand up to the added power very well. You should look for an M46 (4 speed + overdrive) which is what turbo/manual cars originally came with.