Here is what Jiffy says:
Q: What is the difference between the Jiffy WHITE LIGHTning™ and the LEGEND LIGHTning™?
A: The same two horsepower 49 cc Tecumseh engine is used for the Jiffy WHITE LIGHTning (Model 76) and the LEGEND LIGHTning Model 77. The engine on the LEGEND LIGHTning is yellow. They all use the same high-speed gearbox used on all Jiffy power ice drills.
The WHITE LIGHTning and LEGEND LIGHTning are available with all the FirePower™ and FirePower D-Ice'r ARMOR™ drills. They can also use any separately purchased Jiffy 70 Series power ice drill assembly.
I have a 2 HP Stealth and for the extra $$ definatley go for the Stealth blades. That price of $299.99 I believe is for last year models. I don't think this price is for the new 2006 STX blade models. I have seen them listed between $379.99 and $389.99 for the new model. They are also offering a 1-2-3 warranty on their new 2006 models. A 1 year warranty on the engine, 2 years on the gear box and 3 years on the new STX blades. When I bought my Stealth two years ago I paid $329.00. Good Luck.