Jeff, Thanks for the correction, I've been incorrect for decades! Evidently 700C has taken on the wrong meaning in common language as even wikipedia is incorrect:
700C Road bicycle wheels / ISO 622
Touring, race, and
cyclo-cross bicycles may have vastly different design goals for their wheels. The lightest possible weight and optimum aerodynamic performance are beneficial for
road bicycles, while for cyclo-cross strength gains importance, and for touring bicycles strength becomes even more important. However this diameter of rim, identical in diameter to the "29er" rim, is by far the most common on these styles of bicycles. It rolls more easily than smaller diameter tires. Road wheels may be designed for tubular or clincher tires, commonly referred to as "700C" tires.
An interesting link:
http://en.wikipedia.org/wiki/ISO_5775
Brad