7¼" & 16+" radius are at opposite extremes of guitar radii, but the difference is one of feel - you are unlikely to be able to see much of a difference between them.
The 7¼ will feel much easier/comfortable to play chords on (especially barre chords), but harder to bend strings (ever wondered why players of really old strats have uncomfortably high actions & look like they're in pain trying to hold long sustaining bends?).
The difference is exacerbated by the "typical" choices of fretwire used on these necks - old fender necks often have 6230 wire (low & narrow, not dissimilar to an acoustic), whereas the Ibanez most likely has 6100 or even 6000 (skyscr@pers!). In other words, the Ibanez will feel "fast" but the Fender may feel more comfortable...
7¼ necks are not unplayable by any means - in fact they're still very popular. Just don't expect to shred on one like you're holding the Ibanez :)