OK, everyone has seen a dyno comparison of the two, right? If not here ya go..
green is stock 700 on slicks with the baffle out of the muffler
red is stock YFZ on slicks with a slipon and a replacement K&N

OK, now lets look at it in real world terms....mph.
both pulls as above were in 4th gear....lets see the graph in mph:

The main thing I am showing is the actual power at the ground through the mph range of 4th gear. Its totally a different tell when you show the mph curve instead of the rpm that has normally only been shown in magazines and different places. The YFZ gets up on the HP curve a little sooner than the 700 does but the 700 has 30-40ftlbs of torque from 23mph to 55mph were the YFZ barely cracks the 30ftlb barrier but has about 40lbs less weight so its a give and take. Then take into consideration that the average 700 rider is over 175lbs and the average YFZ rider is under 175lbs. Ive been wanting to post this type of material up since I joined this site but have only just now got a YFZ owner to get on the dyno.
Finally.....an amateur rider magazine.....
http://www.atvexposed.com/