I attended a Sony and Avid workflow seminar a few weeks ago and got hands-on with the 700, EX3 and EX1 there.
The biggest quality upgrade for the 700 is the processing IMHO. The difference between 12-bit processing and 14-bit processing plus the difference between 4:2:0 and 4:2:0 (at 50meg) is why this camera is going to be huge.
Also, the EX3 with the framerate/format knob on the side of the camera and the ability to be controlled by CCU (plus interchangable lenses) are big upgrades from the EX1.
John McClary
“The future you can afford”