I just sold my IN72 on the forums recently ( it is on route to the buyer as we speak) and bought an Optoma HD65 ( which I believe is very similar to the 700) which I got last Friday. So far I have watched the 3 Matrix movies on HD DVD on the HD65 and also Cloverfield on SD and all 4 looked amazing ( the default settings look perfect to me).
From what I have seen the HD65 is pretty bright and I am so pleased with my purchase. It is also far smaller than the IN72 although I am finding it a bit more awkward to set up due to distance from screen and zoom etc - but this down to my room not the pj. I cant say if standard dvds look any better or worse than on the IN72 but I was delighted with how Cloverfield looked and have no regrets about changing.
In fact I am probably gonna get a BR player sooner rather than later

as the replacement bulbs are only £100 or so and I intend to use the pj more often than I used to.
If you have HD sources I would say go for it!!! As for 1080p pjs I cant help you there as I have never seen one ( but if they can make Monica Bellucci look any better than she did in the matrix films then



).