The CZ 700 M1 is a new rifle, but CZ has been making quality rifles for many years. The 700 M1 uses a laminated wood stock, which is better then standard wood, but still flexes more in changing weather then a synthetic stock ever would. The stock is easily adjusted with external knobs, but those same knobs may also get in the way and be knocked lose while in the field, some lock tite might be in order once you have the stock adjusted to the desired position. The trigger is fully adjustable externally, which is always a nice feature, and I love the large bolt handle. The bolt has 6 locking lugs and the weaver style site rail is permanently attached to the rifle. The forearm of the stock has an accessory rail for a hand stop with spigot for parker-hale or versa-pod bi-pods or other accessories. The 10 round detachable box magazine is nice, and even fits flush to the stock to prevent awkward handling.
The CZ 700 M1 is an accurate rifle, with accuracy (with quality civilian match ammo) down in the .5 MOA class. With the US standard M118 ammo those groups will open up. The rifle fills a gap nicely in the tactical sniper rifle lineup, being available for about $1700 which is between the big dollar rifles, and the lower end rifles, I just wish the M1 was standard with the synthetic stock.
There is a CZ 700, which is a synthetic stock version of the same rifle with a fluted barrel, but I have not seen this rifle available for sale, and I can only assume its military/law enforcement only. The CZ 700S is a suppressed version with a VERY large integral suppressor which is very effective when used in conjunction with sub-sonic ammo. Both of these rifles do NOT have the permanently mounted weaver rail.
The CZ 700 was well liked by those who did, and still do, use them. It has been replaced by the 750 S1M1 which is based more on a production rifle and does not have the custom feel of the 700 and is not liked nearly as much as the original.