Well theres going to be pros and cons to both, both are good platforms. Nobody here can tell you which one you buy, only you know your budget, tow vehicle, etc. Hopefully we can all arm you with some information to make your decision easier.
The z7 will give you more room, more storage and will be much more stable on the water. On the flipside it will cost you more in fuel both on the water and while in tow. The z7 is no flyweight so think about what you will be towing it with as well.
I went thru the same thought process when i bought back in 2008. Since i dont really fish tournaments any more i thought heavily about downsizing to a PT190 since for what im doing it would be just fine. At the end of the day i ended up with a Z7 for a couple of reasons. The first being the stability while fishing, the 190 is in my opinion very tippy and since i dont have the greatest balance in the world that played a huge factor. Room was the other one, the Z7 has a lot more deck space and a lot more storage for stuff. Those two things were deciding factors for me.