school, here is a pic of 3 700's and an AR, the top one is a 6.5x20x40 loopy mounted in loopy low rings, its almost 2 low
the second one is a 50 mm scope mounted in med rings, its just right
the third is a 56mm scope mounted in high rings
notice the AR, see how high the scope is, its just right also, its a high rise mounted in low rings,
on a 700 I think med's will serve you well on a 40-44 mm scope

RR