The 45/70 can be loaded to be ballistically identical to the 450. In fact, all a 450 marlin is is a 45/70 loaded to its full operating pressure.
The issue is that 45/70 factory loads are loaded down because most people who shoot the 45/70 do so in antique guns that were built before the advent of smokeless powder. Their actions are weaker and can not take the higher pressure of the 45/70 loaded with a full load of smokeless. The marlins can take the higher pressure of a fully loaded 45/70.
Basically what marlin did was, in order to get around the antique gun problem, added a belt to 45/70 brass so that it will not fit in a antique gun and then loaded the round to its potential and called it the 450 marlin.
Basically, there were more factory loads for the 45/70, and I could handload it to be identical to the 450 marlin. Also the ammo and components of the 45/70 were cheaper, so I could shoot more.
One thing, however, I do not know if the 450 marlin can shoot 45/70 safely. The brass and bullet dimensions should be the same, and the belting on the 450 marlin case should keep a 450 out of 45/70 but not the other way around. If this is the case, I would go with the 1895m so you can have maximum flexibility.