The 730 is a better phone in every aspect:
The processor of the 535 is the S200 which is a budget SoC and not the fastest for games, the 730 with the S400 processor is more capable for gaming. Also the S400 of the 730 can handle 1080p video recording... the 535 cannot handle that recording resolution.
Right now, some 535 users reports problems with the touch screen and even MS release a fix for the issue, it seems the problem still persist... so i think it would be wiser to stick with the 730.
About the 1330, if rumors are true it could be a nice mid ranger phablet... but it may take some time until we see that phone.