This is an educated guess, but I'd think that with equal care in bullet fit to bore and general load developement it would be a horse race. Especially at 50 feet from a Ransom rest.
For long range practical work, the 7.65 would have a little higher velocity, hence less drop. The 9 mm velocity is in the trans-sonic region which means it will be affected more by a cross wind. The 7.65 is fast enough to get out of this region. The 7.65 has a little less recoil hence less jump to disturb the aim.
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