I certainly hope it wasn't similarly priced as this....
http://www.amazon.com/Fujifilm-Finep...1258601&sr=8-1
$350 on Amazon for the S700! I bought mine last Christmas (2007) for $200. It's now an old outdated model and I think goes for around $150? Don't quote me on that though.
I can't tell you to go with the other camera, I have no idea what that is. I can just say that the S700 is a nice camera for the price. I have far outgrown it over the past year in my learnings of photography and I need a good dSLR with much broader limitations than I get with the S700. Unfortunately, funds do not allow that, so I am stuck with my little ole fuji.
You can check this out and see some images from my Fuji. Some of the images are from a few years ago with my 2 mp, but I have the camera listed on the side for each image....
My Gallery
It is extremely limited in comparison to a dSLR, but it is nice in that it holds all the different manual modes and has a nice zoom level. The quality falls drastically when you move past ISO400. I use ISO400 for indoor shots and do noise reduction on them, but ISO64 and 100 are great for outdoor shots.
I was very happy for this past year+ with purchasing the S700.