The other tangible, is that the 1.7 is while almost as fast as the 1.4, it is not as heavy, so you are more tempted to keep it and the x700 with you every day in your day bag.
I have shot an x-700 (actually a few different ones) since they were first introduced, and find that I use P mode very rarely. I find A suits my style much more readily. Manual metering in the x-700 kind of sucks. For a much more pleasant metering and selected speed though the viewfinder indicators, look to find a close relative, the X-570.
As others have noted, unless P is the needed mode, older MC and Roccor-X lenses work fine. They are, being all metal, quite a bit heavier too.