Your situation sounds very familiar to me; I also have a SD 702 and I wanted to record more channels. So I bought a PreSonus FireStudio Project (8 mic inputs, SPDIF in and out, bunch of other stuff) to connect to my laptop. I’ve used the PreSonus for some location recording with mixed results. I record 90% acoustic/classical and although the mic preamps aren’t bad, I did not think they were quite good enough. They also will not supply 48V phantom to more than two mics at a time; once you connect more than two condenser mics, the voltage drops to about 35V. For many mics that is not a problem, but for my primary mics, it is.
My main concern, though, is the delicacy of laptop location recording. Laptop recording has too many Single Points of Failure (SPOF). You are just one glitch from disaster, and I was never comfortable with that. This is not a problem with the PreSonus in particular, but with laptop location taping in general. Now if you are not taping live on location it is much less of a problem. For a home studio the PreSonus and gear like it are just fine.
I guess I have been spoiled by my 702. The bottom line is I bought a 788T to do multiple mic location recording. Not an inexpensive solution, but it works for me.
Anyway, getting back to your questions, I have never connected my PreSonus to my 702. In fact, I’ve never thought of connecting them until you brought it up. When I connect the FireStudio to my laptop, it is controlled by a PreSonus app and Cubase (DAW software) running on the laptop. Of course the 702 is not running any apps or DAW software so I doubt you could connect the PreSonus to a 702 via FireWire.
The only information I have on the 702s AES/SPDIF input comes from Page 15 of the 702 manual. It appears you could connect the FireWire pre-amp to the laptop and run the app to control it, and connect the FireWire pre-amp’s AES/SPDIF output to the 702. However, why would you do that? To use the 702 as a bit bucket? Why not just record to the laptop since you already have to use it to control the FireWire pre-amp? Maybe I do not understand your application.
Even though I have not given it a very good sales pitch, I’d be happy to sell you my PreSonus if you want to play around with something like that. It is an inexpensive way to record lots of tracks. PM me if you are interested.