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i'm not familiar with the r700dpc but i did a quick google search and it looks like it's very similar to the 707.
features-wise, i don't see anything that would make it really a "must-have" over the 707.
i'd recommend the 707 in this case.
however! will you be using the 707 for microphone recordings? the reason i ask is because that is the only real reason to get a 707 over a mz-n505.
the 505 has most of the features of the 707. the only real thing that you're missing out on is the mic, charging cradle/rechargeable battery and car kit. other than the mic, the others are just pretty minor accessories that are really not worth the extra money.
i don't know the US prices, but in Canada, the 707 is $170 more expensive than the 505. if you don't need mic, grab the 505. hell, other than the mic input, the bottom half of the 505 is physically exactly the same as the 707! i wouldn't be surprised if the majority of internal parts were shared between the two.
besides, there is a hack so you can get the 505 software up to mz-n1 levels, so you can get a pseudo line-out, speed control (with the remote), etc.
oh yeah, you also don't get the remote with the 505. but with the 707, you just get an analog remote anyway, (no digital display) so i don't know if you'd like that. personally, i have never found a remote appealing.
so there you go. the decision is yours. just keep in mind, that sony purposely markets different MD players at vastly different prices, and with only marginal real differences, so that they could squeeze as much cash out of everyone. so the 707 is only marginally better than the 505 (mic in), and the n1 is marginally better than the 707 (slimmer, magnesium body, other minor things like that).
good luck.
EDIT: woah - the r700dpc doesn't even have NetMD! i don't know if you need that, but i highly recommend it. so i'd definitely consider the 505/707 instead.
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