I remember looking into the 700 back before I purchased my 500 and pretty much all the reviews out of Europe were positive about the bike. Good mileage, storage, overall a great 'workhorse' type of bike (which is what I was looking for). However when I read the North American reviews they all stated it was a good bike....BUT...not enough power/oomph for general riding. I personally like it (never ended up riding it) but it seems to have what I was looking for. However my 500 was just a better deal at the time, and with the luggage I have for it there's plenty of space for general duty and some light touring.
Good luck with the decision, always a fun one to have!
Good luck with the decision, always a fun one to have!