The DW735 has three knives and two speeds and also has it's own built-in
chip ejector fan so you can get away without anything external to the planer
except for the bag to collect the chips in. I don't know if the DW734 has this
feature.
I've had my DW735 for over 10 years and use it with my shop dust collection
system but I think the chip ejector fan in the tool helps greatly with pushing
the chips to the dust collector which is30+ feet away as the pipe runs. I never
get any build up of chips on the table or spilling out on to the floor.
I like having the two speeds and the lower profile of the machine compared to
the DW734.
The DW735 has repeatedly been rated one of the better lunchbox planers in
review after review. I don't know what the difference in price is today but I
looked at both DeWalt models back when I bought mine as well as a couple
others and chose the DW735. Only thing I would change (and plan to) is to
install a Shelix cutter head and ditch the straight blades.
Actually I think the current model is the DW734 which has a three knife head
but is the same basic design as the DW733.
http://www.dewalt.com/en-us/products/power-tools/routers-planers-and-joiners/planers-and-joinersI wonder if the 735 cutter head and the 733 head are interchangeable? That
would give 733 owners a way to increase the number of cuts per inch by 50%
(same RPM but one more blade).