I do NOT own a 504, but i have been following post on it around the net as i find them.
I've read that it's very accurate and looks to be well made. I think most agree it's over priced though. One guy owned one and said it was a toss up between the 504 and a Kimber.
"If" you feel it looks like your 700 and you want one, go for it!! It's YOUR money, and only YOU have to be happy with your purchase!!
For me, i like my 22's a bit more petite than a Kimber or 504, and i like the quality to be better than a Marlin, so i'd pick something all together different.
Drilling Man