700 is a little high. It is basically a stock LED, and its a 97 one at that. Either that or the ownere prefered the on/off reg and bought one for this 98 or 99.
The gun does look to be in good shape though. I don't see any of the usual scratches on the reg.
I would ask about the battery and make sure the Nitro tank isn't out of hypdro or something. Even with the tank you should be able to get him down maybe $50-100 bucks.
If you don't buy it I will
I need an LED to get adrenalized.