I am far from an expert but.. You could look up the two on the agco parts site and compare them. One thing that was an issue on the 7000 series and was resolved in the 8000s, a clutch drum was bolted to a gear in the trans. The bolts would shear off and you would loose several gears. later ones had larger bolts. The 7020 would have a 2 pinion differential where the 7060 would have a 4 pinion diff. but I am not sure if the trans has any differences. The shift valve is different because of age but works the same.