well, a G7th means a Gmajor with a b7th. This was the common usage of 7th chords so there was no need to specify the b7th - it was implied. It is only when the natural 7th chords started to be used that they had to denote the difference and so they call these chords "major" 7ths. Unless you're dealing with jazz, you don't normally run across major 7th chords, although they're becoming more common.
The normal 7th chord (b7th), when played as the fifth of the scale, has an important function. It pulls very strongly back to the root. And when played other than the fifth of the scale, can be used to modulate to another key.
But wait 'til you've heard from Fretsource to get the definitive lowdown...
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