Will I be happy with this decision??

I appreciate any advice/thoughts you may have.

The 740 will definately cater to your luxury aspirations. The sport will provide plenty of fun too. I personally really like the extra width in front that the 7 provides. The cabin is a great place to spend time. The sport should be tons of fun. I recall a couple of years ago racing down a winding mountain road with a 328i in our '95 740iL, even though the car is large it is amazingly agile. We have since moved into a 750iL with the 18" wheel package. While it doesn't have the spring and shock upgrades of the 740i sport it is great fun to tear around in.