I own the SD450, I can say that if the 700 is an improvement you will surely love it. High ISO is mostly a waste because the images come out too grainy. So, you want to shoot with a lower ISO, but then the shutter is open way too long causing blur. I can imagine the IS feature cures allot of this issue. The viewfinder is barely used and a bit small, I mostly use it when I'm sneaking a few snaps of a hot girl without her noticing (which is much more obvious when using the LCD.) It's also a bit more helpful when shooting in lower light. The lack of a battery indicator really sucks --- nothing but a 5 minute warning when it's almost drained (SD450).

I am also the owner of a Nikon D70s. For a pocket point and shoot, I love my ELPH.