Hi headhunter994, if you're trying to record a higher resolution DVD movie to be viewed on the AV 700, my advice is you won't get much improvement as the resolution is restricted to the LCD display of the player.
If you compare the LCD display in terms of pixels counts of the AV 700 to the AV 500, they are almost similiar but AV 500 surpasses in image quality due to it's smaller LCD display.
7" LCD 480x234 pixels, 262 000 colours
4" LCD 480x272 pixels, 262 000 colours