Even though I just bought an STI Spartan, and it locks up like a bank vault, and I wouldn't trade it for anything right at this moment, I'm going ask if you've considered Ruger: P90 if concealability isn't an issue, P345 if it is. Or P97 if you don't need an accessory rail and want to go for lowest possible price. There's one P97 on Gunbroker right now for $319, and a LNIB one started at $100. For your $700, you could get the P97 AND an old Mk II .22. Or a case of ammo.
(Only shooters with medium-to-large hands should apply for the P90 -- but the other two are fine for any size.)
I have owned at least one example of all three and all have proven dead-nuts reliable and accurate as a good 1911.