Yamaha changed their model numbers often, probably as a marketing thing to sell more guitars. You HAVE to have the new model!!
I LOVE the Black label FG-75-1! It is so much better than the boxy Red label FG-75, unless you're looking for that tone. The 000 size FG-110 used to be my favorite. The FG-75-1 seems to have a slightly deeper tone even though it has a smaller body. But the body is a bit deeper. $200 might be a little high unless it is very playable. Too many old FG's have bad neck angles and high action due to 50 years of string tension pulling the neck up.