Your 765T DOES have the feture. I have a 765T. In fact I've relied on the last position feature in Disney myself on several occasions and once in Philidelphia after exploring the city for about 9 hours.
It's described on Page-11 or your 7x5 owners manual.
IMPORTANT: For the "Last Location" to work (be created and saved), there must be power to the cradle when the GPS is removed.
And yes, you could achieve similar results on any nuvi by touching the car as in the "where am I" function and then name and save the location yourself.
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