If you look at "Usage in Stores" section of Ext.data.Model documentation you'll find these two sentences:
A Store is just a collection of Model instances - usually loaded from a server somewhere. Store can also maintain a set of added, updated and removed Model instances to be synchronized with the server via the Proxy.
and
It is very common to want to load a set of Model instances to be displayed and manipulated in the UI
So this means that store is typically used as a collection (or I would call it a repository) of many model instances that syncs data with defined backhand and maintains a list of model instances that can be filtered, queried etc.
On the other hand Ext.data.Model.load method only loads one instance data by specific model id.
Based on this I would say that difference between Ext.data.Model.load and Ext.data.Store.load is in amount of data you want to load (one or many model instances).