Let's see - both have FM, both can play MP3/WMA/AAC, both have an average camera and both can go right up to 32GB. However, the Cookie > G700 for a variety of reasons. For starters, the G700 (regular, not the business one) looks like dog poop from afar. The screen is pathetically small for a touch screen and the processor is hopelessly slow @ 180Mhz.
I'm sure someone out here will proclaim - "but the G700 has got tons of apps!", but let's face it, how many good UIQ3 apps are there anyway- 8? maybe 10?
Unless you're going to be banging out e-mails and messages all day long (neither of these phones are any good for that really), I'd recommend the Cookie.