If I was getting an AK now, I'd go 7.62. I have 2 5.45 AKs, and dozens of mags, I got them when they where cheap, I wouldn't pay $30+ each now, but the ammo is going up and 7.62 is going down, right around 18 cents a round before shipping. AK47 mags are still crazy cheap and of course drums are always an option as well, with 5.45 if you want more ammo, you either need a longer 45 round mag, pay 5 figures for a quad stack if you can ever find one, or get a custom drum for $300. AK47 drums are everywhere and relatively cheap.
They both feel about the same, recoil wise to me too, and I wouldn't be shooting someone out to any distance where it would matter in regards to bullet drop.
I am glad I went with 74s, and especially glad I stocked up on mags and ammo when they where at their cheapest.
Also, is it me, or have AK prices doubled since I bought mine? Even cheap romanians are like $600+?!