To suggest another option I think the Motobecane Gran Turismo is a great bike for only $700! see this for details:
http://www.bikesdirect.com/products/...an_turismo.htm
Another great option from Kona is the Sutra model instead of the Jake, this one comes with complete set of front and rear racks plus fenders thus it's ready to add on pannier bags and get on and go. I'm sure you could get it on sale somewhere for less than the $1500 new retail price.
But for a low cost and highly rated touring bike the Motobecane is going to be hard to beat for the anything under $1500. For $700 you could afford to put on front rack, nice fenders, and accessorize it anyway you want.