I live in a backwards country (USA) where we don't have the 754, we have the 723. I had the 722 for several years and switched to the 523 as I realized I don't need that much insulin and like the slightly smaller pump.
The -23 series pumps w/ CGM hint at what the Veo does with the "Predicted Low/ Predicted High" alerts. I have found these very effective. I come home from work, check my BG, it's 85, I'll have a glass of skim milk and get changed. As I start out, the CGM will alert me to a "Predicted High" as it notes the increasing BG. The 523 doesn't do anything at this point but I'm running and don't worry about it.
About 2 miles into a 3 mile run, it will often follow with a "Predicted Low" as my BG "rolls over" and starts going down. I've read that the -54 series pumps (Veo) will turn off the basal at this point. I would prefer that it not actually do this, as I usually run fastest as I get close to home since I figure I might as well get it over with and see a slight spike. For parents, depending on how you run your show, I think many of them will find this reassuring that if their BG runs low, it will cut off the basal to help with the turnaround. I'd need more info to say if your son really would need it but the 754 is Medtronics latest technology and I would have bought it if I could.
I think it also uses their latest sensor, the Enlite, which I've read is more accurate than the Paradigm model available in the US. I don't know if the "free book offer" on the right side of the page is still available on the right side of the page but that might be interesting for you if it's still there. Here's a link to a thread discussing a presentation by Dr. Francine Kaufman, who wrote the book and works for Medtronic: LINKthat has some more discussion you may find interesting. In the Video you can watch her video from last week. Somewhere, there's a presentation, a power point sort of thing that goes long with her speaking but I'm not sure where they put that?