Ok I just did an edit, Ill repost what I added.
"And by having resolutions as high as 1600x1200, it also enables you to use ultra-high refreh rates at lower resos such as 1280x1024(90Hz) and 1024x768(120Hz) which Im sure many regular users will appreciate."
With the 700NF, you can do what I described above, with the EF70, you can forget about it. And since they both use DiamondTron NF, the less likely you'll see the image quality difference anyway. The edge goes to higher video bandwidth, higher specs, and lower price.