First of all, is the 782 IH built and what motor does it have? Do both run? If the 782 has a series II non-ventilated with a connecting rod, I'd go with it. Even if it's a CCC built one, I'd pick it over the 1282. The side panels are easy to find and the series II can be rebuilt. If the 782 has the series I and is non-running, I'd lean towards the 1282 if you are wanting to buy something now. If you can wait, hold out for a 782. The hydraulic lift and twin cylinder makes for a nice tractor.

. Keep us posted and of course post a pic when ya decide which one to go for.