I have only heard the MP700 via a clip sent to me by someone - but from what I could hear it is impressive - its a major redesign from the MP500 much less rolled off at the top ( Nagaokas own comments ), from what I heard via recorded clip it is very neutral, very transparent - a lot more revolving than the 500 - boron cantilever and micro ridge stylus. What I heard was an effortless presentation along with transparency.
I'm also toying with the idea of getting one for my second turntable at some stage.

