Yes serious.. No offense taken bud. I was shocked too when teh first M700 was released. The only results I have are with my IR Combro 625 Chronograph and the radar chronograph at Airsoft Extreme:
M700 1st Gen with non adjustable FPS control:
http://www.digitalwastelands.com/content/index.php?option=com_content&task=view&id=61&Itemid=29
M700 AICS with Adjustable PCS control set to 70%
http://www.digitalwastelands.com/content/index.php?option=com_content&task=view&id=106&Itemid=29
We chrono'd with Green gas at AEX with power set to 100% @ over 600fps with .20 and green.
Both high fps results are with .20 and green gas. The other beauty of the M700 series is the insanely easy hopup adjustment, which makes is practical to shoot .20 with this high fps.
Please don't get the Tanaka M700's confused with the KJW which are copies and do not perform near as high in fps.
Other M700 info not written by me (Keep in mind most of these peeps are just guessinf fps):
http://www.hammermods.com/m700.htm
http://www.airsoftretreat.com/reviews/showproduct.php?product=39
http://www.airsoftpacific.com/viewtopic.php?t=2974&sid=5844645ae8099566bda36c1784da4398
1 major thing to keep in mind is even with PCS the gun may be too "hot" to skirmish with. So if you are planning on skirmishing with this family of guns, check with the peeps you play with.