If the model 701 is a direct-drive Dual with the coreless motor, go for it. It should outperform the Rega in stock form. If you want to pay for and install the many upgrades recommended by others for the Rega, perhaps that's a different story, but also a lot more dollars.
We are talking about turntables; I presume you will use the stock tonearm that comes with each of your two choices. The tonearm should match well with the cartridge of your choice, in terms of effective mass.
We are talking about turntables; I presume you will use the stock tonearm that comes with each of your two choices. The tonearm should match well with the cartridge of your choice, in terms of effective mass.