That M4-2 for $700 must not be one of the gold versions, or one of the very few chrome models.
I bought an M4-2 in 1983 brand new (yes, it was by then surpassed by the M4-P). I paid $800 for the body. Back at that time, Steve Gandy hadn't yet passed judgment calling the M4-2 a lesser light than the original M4. It seems he doesn't like the exterior finish.
I bought an f2 Summicron with the body, and later bought a a 35mm f2 and a 90mm f2.8. They are the sum-total of the lenses I have, and I've never hankered after any others. In fact, that's why I opted for the M4-2 over the M4-P with more viewing frames.
Now the "Read 'em and weep" part: That body and three lenses cost me less, in total, than the current price of an M-7 body. Now, there are two arguments mitigating that: 1) the M4-2 doesn't have a meter and 2) they have somewhat changed the formulations of the lenses since then. Does that stop my stuff from taking pictures. Absolutely not. Since I'm an amateur, my stuff is still in nice shape and works nicely, as I expect them to for quite a while longer.