You can find a lot of reviews on both atv's, I was in the same boat as you and I ended up getting a 08 raptor 700 seII.
You are always going to have people that say one atv is better than the other. The 450r sits lower than the raptor and it's a little wider which gives you more stability and its a little lighter so if your looking at getting more air off hills in the dunes or race on a track then the 450r would probably suit you the best.
The 700 on the other hand sits a little higher, isn't as wide but has a crap ton of torque and can handle corners and trails a little better (is what all the reviews say that I've read). I was looking for an all around good atv when I was in the market for a quick atv and they require less maintenance too which was another plus to me.
I haven't ridden a 450r so I can't really speak for that machine, but I love my raptor and it's super quick, although I have a hotcam 3, intake, and EFI on it. Basically for dunes and racing on a track, most people seem to recommend the 450r. For trail/mountain riding, it seems that people recommend the 700 and they say that they still can get good air off the hills in the dunes.
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