It is interesting, this perceived difference between 700c and 26 inch wheels when it comes to distance/effort. I've ready several interesting bits of research that appear to indicate that most of this is simply perception but not real - unless one is racing. When I have a chance I will see if I can find the articles again and post it in another thread.

Personally I love my 26inch wheels on my LHT - but to be fair - this bike fits me where the Trek 7.6 FX did not. My new bike will also have 26 inch wheels - I love 26 inch wheels because they are so versatile in the range of tire sizes available and the ride. That being said, I have not ridden a bike with 700c tires that actually FITS me.

Research aside, I suspect this is one of those topics that it is possible to debate without end as it really comes down to individual preferences.