I have the PE770, not sure what the differences are between that and the PE700ii. I like mine, I don't use it a LOT but it's been very reliable and easy to use when I have used it. The only problems I've had have all been caused by either user error (using the wrong stabilizer, etc.) or by poor materials (cheap thread that just shredded).
It came with a 5x7 hoop and can use a longer hoop to do continuous designs. I don't think it can go much wider than that. (Not actually sure, though.)