As much as I love the pretty lights & know they are built bomb proof I struggle laying out that kind of cash for two channels when there are so many multi channels decks out now. I'd still consider the 744 since I run external preamps anyway but a 702? Nope...
I agree wholeheartedly. In terms of cost vs. value, I think the 702/702T/722 might very well be the worst investment you could make in 2015, new or used. If you must buy a Sound Devices, do not get anything less than a 744T, otherwise I recommend most consumers look for other options.
The 2-channel 7xx series recorders are in a strange place. In 2004 they were space age technology, but Sound Devices has neglected them ever since and failed to refresh any technology features. They also haven't lowered the msrp to compensate. Just to name a few problems with how these units have aged, Firewire 400 is virtually obsolete, the internal hdd is still a mechanical PATA IDE drive, and almost everyone would prefer to use SD cards over Compact Flash (or in addition to). The first two issues are just silly and represent a legitimate risk to your investment.
Firewire 400 is incredibly slow and impossible to find on new computers for many years now. Furthermore,
hot-swapping can cause actual hardware damage! The modern world has been over this technology for half a decade now and Thunderbolt or USB 2.0 or 3.0 connections are superior in every way. As for PATA drives, you be lucky to still be able to buy these new in a few years. I suppose there will always be a few obscure manufacturers making them, just like cassettes or blank vhs tapes, but the format has long-since been a specialty product and you might find yourself looking high and low (heh) for a reliable brand.
In all fairness, the rest of the 702/722 feature set is still pretty good. They're definitely tanks, with the build quality of a Sound Devices unit, and for a two mic/line channel device they're still a luxury device with all the bells and whistles. Redundancy, time code, a tone generator, internal and external powering with voltage monitoring, keyboard compatibility, etc. Oh yeah, and they have fancy lights, too. Unfortunately, if you don't need these features then the 702/722 is a terrible investment and here's why...
The used market for 702/722s has maintained higher prices than normal, selling anywhere from 60% - 90% of their retail value. This is in comparison to the 744T and even the 788T which both have seen drastic price drops on the used market in the last 6 - 24 months. In my opinion, a used 744T for < 50% of the $4,400 msrp is still a great value, but you simply won't find a 702 for $1000. $1300, or 65% the price of new, is probably the lowest you will find. How long will this keep up? My guess and hope is that it will probably come to an end soon because I'm not sure Sound Devices can ignore their recording lineup any longer. As soon as they are officially discontinued, replacement or no replacement, prices are going to tank. SD simply can't continue selling a Firewire 400 device until 2020 (or can they?).
So, after all of that, my advice would be to buy a 744T used for a little more (2000-2200) or buy another brand all together. Maybe consider a Trashcan device as a temporary solution... for $200-300 you could get the 70d and at least get your feet wet while the market shakes out an SD maybe decides to refresh their product lineup.