I have recently asked myself, much the same question. As a former SKS owner (Norinco...1995-2001), I wish I had never sold this rifle.
Speaking only for myself, given the choice between the two, I would rather have the AK platform. I have owned an Arsenal SAM-7 A1R milled and a Romy WASR 10/63. As has been previously stated (and obviously so) there is a huge difference between fit and finish, funiture, overall looks, possibility of canted barrel, gas block, etc. Rightfully so. My WASR was extremely rough. Was indeed canted (barrel and gas block). Wood furniture looked as if you would pick up a splinter in your hand.
However...Function wise...Consistantly, bang, bang, bang. Always fired and functioned. Just really ugly to look at. Typical AK I guess.
A few months ago, I was once again in the market for an AK. My budget was (at the time) $600. I looked and looked and tried to do my research. Here is what I found, and what I purchased:
As per your $700 purchase budget.
1. M&M M-10: Basic Romainian sporter. Built and redone by CoGunSales of Colorado. 90+ % of what I have read and can ascertain about this rifle is extremely positive. Original CHF barrel and all new parts. Original Romanian made reciever (what I can't get over is no dimples) made to originally accept only 10 round magazines. I am sure it is machined out properly and bullet guide is installed.
$599.00 (plus shipping, from multiple sources)
2. Polish Sporter (I.O.)...I know, these could be kinda scary. From what I can tell, these are Polish (made) reciever and barrel (Radom) built with Romanian made parts kits. My opinion...Romy parts around a "quality made reciever and barrel" should be fine, if not great. I have thought very seriously about buying one of these rifles.
Atlantic Firearms: $589.00
Classic Firearms: $499.00 (IF THEY STILL HAVE IN STOCK)
Caveat: I have dealt with Atlantic before. Good people. Appear to stand behind their sales and treat customers correctly. I have never, as of yet had any dealings with Classic.
Anyhow, here is what I did purchase: "Waffen Werks" AK-74, NO-DAK Spud reciver (REALLY good reciever)
Obviously, this rifle is 5.45 X 39, not 7.62 X 39. I wish Waffen Werks made the 7.62 rifle.
As I have previously stated... I am now in the market for an AK-47 platform, as I have purchased a "Waffen Werks" Bulgarian AK-74.
Good luck in your search...Hope this has helped somewhat...
Gunner