TRUNCATE TABLE:
TRUNCATE will reset any identity columns to the default seed value. This means if you have a table with an identity column and you have 264 rows with a seed value of 1, your last record will have the value 264 (assuming you started with value 1) in its identity columns. After TRUNCATEing your table, when you insert a new record into the empty table, the identity column will have a value of 1. DELETE will not do this.