For $700 there are a lot of choices.

It's at the top end of your price range but maybe look at the Wabi Classic?

http://www.wabicycles.com/

They are normally $695 but they have a special going on for the Sapphire Blue in size 61cm (probably around your size) for only $575.

http://www.wabicycles.com/classic_bi...apphire10.html

Nicer steel (Reynolds 725), a big upgrade from the hi-ten republics, and even better than the normal 4130/520 cro-moly on other entry level bikes. Plus you can customize it somewhat with the type of bars, stem, crank length and gearing. These sound like small things but once you buy a $400 BD bike you may end up spending another good chunk of money getting the fit/gearing dialed in to what you want. This way you spend the cash once and you're set.