The main difference is that the 712U 2 iron will offer more forgiveness.  It has the same playing length and lofts as the CB 2 iron, but has the offset and blade length of the AP2.  The 712U is a great option for CB/MB players looking for more forgiveness in a long iron.

Cameron

1-888-TITLEIST

I got a 2i and i must say i love it

Agreed. I play 710CB's and recently replaced the 2 iron with 712 U. I play some tight courses and need a club that  can still get some distance but has to find fairway. The 712U can hit every shot I hit with the 710 CB 2 iron but is not only more forgiving but longer by approx 10 yards. If you game a 2 iron, get the 712u 2 iron. 

I have the AP2's and the 4 and 2 712U irons...they appear to play very similar however the 712U's launch higher...of course....FYI

I played Apex blades for years. I don't know about 20 feet high but I am pretty sure you will have to take something off your swing to hit the 712u only 200 yards. This club is long. The other is the help you would get from a mis hit. Lets face it, any blade, especially a 2 iron will punish you for an off center hit. The 712 u will let you know if you mis-hit it, but you will get some decent distance.  The 712u is new so you are probably good for a year or so.