I would be asking the dealer for a big discount personally. It is basically the L7 model with the extended running length and width. People nowadays have a "new frugality." That means don't be stupid with your money...get a discount on this machine.
If you need the extra room, the $700 could be worth it over the L7 series. This is really for those who have a huge stride length or want the extra width. The 12 MPH top speed will challenge most runners but if you need something faster, maybe you should look at a linear accelerator. Other than the extra room, the component quality is not that significantly better for home use and you could make the argument that the L7 series will last longer in home use.