I would go for the 701 in your position as well. I am using a 3sixty.2 right now with the OEM integration (wanted to retain the stock look). It's a great processor, eq, x-over... but does have it's limitations. First thing I like about the 701 is the true 5.1 surround capabilities (the 3sixty sums the center channel from the front stage). Beyond that, the fact that it integrates with your deck is huge. The palm (in my case, windows mobile) blue tooth integration has a neat "wow" factor at first, but I would much prefer to not worry about having my PDA on me every time I want to make a change.
In my case, the 3sixty.2 is awesome. My stock system had the front channels crossed at 200hz and had bass going to woofers in the rear (built into the stock deck/amp). The sum feature worked flawlessly to get full signals up front. After some tweaking and messing with the ground/+ wiring, the sound is clean with no whine, no hiss - just good sound. The crossover works well and the time correction will pretty much make or break a front stage. The downside to it is that to really run active on a full system with bi-amped fronts you would still need more channels.
That being said the 701 does all the 3sixty does (as far as your application is concerned) and does it as well if not better.
Save yourself the extra wiring and gizmo need - 701 should be great. For someone not using a integrated deck I would probably say 3sixty.
