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The F700 is essentially an IFP799 with 4gb instead of 1gb of memory. It also has a level meter, and finally you can adjust recording levels while recording. These features were missing in the old 799 - but a lot of folks made surprisingly good recordings with them anyway. (I have yet to compare the F700 directly with the 799 or 899, but will fairly soon.)
Yes, it does have plug power for electret condenser mics and it can be switched to provide more gain for mics. However, you'll need a relatively high output mic to keep the hiss from becoming obtrusive. The F700 appears to be mainly intended for mini-electret mics.
It is much smaller than most of the dedicated flash recorders, about half the size of the Edirol R-09. It is also about half the price. Unlike the M-Audio Microtrak, it uses a common AA replaceable penlight cell for power, so you can carry a pocketful of spares.
On the downside, it can't record unencoded PCM (.wav) format; 44.1kHz / 320kbps mp3 is as good as it gets. I mentioned the noise issue above. Also, the Edirol and most others use memory cards; with the F700 you get 4gb and when it's full you're done recording. (That's about 27 hours, though.)
Hope this helps!
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