R700 is more like 105 level (in terms of weight) with DA looking chainrings.
and they don't come in black, standard double or triple options.
or any other size than 172.5mm
so if you don't want a 172.5mm compact crank, then the CRC offer is better.
Of course it doesn't come in a standard double or triple size, it was introduced as an ultegra level compact when there was no compact in the ultegra line. There is a reason there is also an r600, and that was to fill the 105 slot.
FC-R700 comes in 165, 170, 172.5 and 175mm lengths, Jenson just has the 172.5.
It also weights only twenty grams more than a standard ultegra crank, which isn't a big deal at all.
So, I don't know what that your reasoning for that was, but if you want a compact, the r700 crank is a much better deal.