Hi David,
I agree with your assessment but think the zero degree horizontal base for the 700 would be needed only for very special situations for most, so would take the price of that gizmo out of your analysis. That said, your conclusions hold. Any one of the routers will serve many purposes and circumstances.
The question that I am asked most is how to cut male sliding dovetails. For that, a horizontal router jig is the best and safest method especially for larger work pieces. The jig I outline in Appendix A of the "Getting the most from the Festool MFS System" manual works well for the 1000/1010 routers and could be adapted for the 1400 as well. But the ease of one bolt mounting of the 700 to the side of a MFT with no modification to the router at all is really compelling if you do very much cutting of male DTs and other edge work like I do with so much demand for rail, stile and panel designs.
I like the simple straight profile on the grove side of the rails and stiles and always chamfer the edges at 45 degrees for a finished look and better feel. There is a really slick little bit designed for edge trim work that features a wide bearing guide, a flat inline cutter to finish that face and a 45 degree bevel to cut the chamfer at the same time. By mounting the 700 horizontally on the side of the new MFT3 that bit clears the top of the aluminum side extrusion with the guide bearing flush with the MFT3 top. The bearing supports the portion of the rail and stile pieces (usually 50mm by 20mm in my standard) that overhand the top of the MFT3 while the edge is flushed with the base plate on the 700 router. Voila! Instant chamfer machine.
Turn one thumb screw and the router comes loose from the base. Change to the dovetail bit, make one simple height adjustment and cut your male sliding dovetails on the finished rail, stile and panel components. Take everything to the finish room, do the finish work in the flat, then simply slide the pieces together to form the completed furniture piece.
I just finished an interesting new wine sales counter and a companion display table for the largest winery in Oregon - Bridgeview. The sales counter is made entirely from rail, stile and panel components that simply slid together for final assembly. Rails and stiles in highly Oregon big leaf maple and panels in book matched flame redwood burl. The whole thing could have been transported flat and assembled on site, but I don't do site work so it is easier for me to assemble in my own studio and transport the assembled piece. Either way, I know of no faster means to a really stunning furniture piece and the 700 hanging on the edge of the MFT3 (or the previous style MFT) is the fastest and best way I know to do the chamfer and male SD work on such pieces.
I have 700, 1000, 1010, 1400 and 2200 Festool routers plus a PC monster in a router table and an equally monster Bosch unit for garbage work, so have the luxury to select the one best suited for each task. Prior to the 700 I mounted the 1000 or 1010 on the side of a MFT to cut the male SDs for large assemblies. Now it is no question that becomes the domain of the 700. For the hobbyist or professional without the luxury, the ROI justification, or the budget to afford all four, the choice becomes tougher. My answer to the which ONE router is "best" remains the 1400, but the 700 has now entered the "best" recommendation for those who do (or want to do) a lot of rail, stile and panel or other edge routing work. I think it will rapidly moving up the "best" recommendation list for those who use dovetail jigs but more on that when I have time to go hands on with all the DT jigs in my studio and learn the limits in each of these applications.
Jerry
PS - I know the no pics cops will ticket me for this post (grin) but I will get pics posted on my web site in appropriate places when I get a few minutes to do so this weekend. Since I need to post them there anyway, it is faster and easier for me to give a URL ref than to resize and attach the pics here as well. I have yet to master that seemingly simple task.
Daviddubya said:
In trying to put the cost of the MFK700 into perspective, I did an analysis (it is the engineer in me). All of these prices are AFTER the 4/1/08 price incerase.
MFK700 Kit with 2 bases, Zero Degree Horizontal Base and Edge Guide - $701.50
OF1010EQ, Edge Guiide, Fine Adjustment and 4 accessories for edge routing - $568.00
OF1400EQ, Edge Guide, Guide Stop and 4 accessories for edge routing - $733.50
If a person already owns the OF1010EQ or OF1400EQ, the 4 accessories for edge routing cost $156.00.
Some differences between the MFK700 and the OF1010EQ/OF1400EQ are:
1/2" collet only on the OF1400EQ
MFK700 is not a plunge router, the other two are plunge routers.
MFK700 is lighter than OF1010EQ, and much lighter than the OF1400EQ
MFK700 has no guide rail attachment, the other two do
While none of these routers is perfect for everything, they all have some similar capabilities, with unique characteristics for each one. A home-based woodworker could probably get along quite well with only one of these routers.
In my case, I have the OF1400EQ plus a 3 base PC kit, 3 trim routers and a router table. One does seem to collect routers over time! I am considering selling all of the hand-held routers except the OF1400EQ and buying the MFK700 or the edge routing accessories for the OF1400EQ. Obviously adding the edge routing kit to the OF1400EQ is the economical way to go, but... Decisions, decisions. Hopefully this information will help some folks.
. With the router on top but cutting with the underside of the cutter, you'll get perfect results. Plastic laminate on the bottom of the sub base is a good way to always move smoothly about with the router.
I will set it up right along my Makita LS1013 and give it a real work out. You are of course welcome in advance for my thoughtfulness of your heavy load. ;D 
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