The 703 has superior picture and sound quality even compared to earlier high end models such as the CLD 2090. It is considered one of the best non-elite LD player ever made by Pioneer. The MSRP at the time it was made (1994) was over $1000.
Pioneer used the 703/704 hardware for two "spinoff" players. First was the CLD-79, an Elite line player that was little more than a rebadged CLD-D704. Other than it's "Urushi" finish (a treatment that gave the plastic a very glossy, polished look), the 79 was different from the 704 only in that it had gold RCA connectors, a slightly higher audio signal to noise ratio and a longer warranty. The second spinoff player, the CLD-99, was again only a minor evolution; in terms of hardware it was simply a CLD-79 but with a new 3D comb-filter that worked via the s-video output to increase picture quality.
After the discontinuation of the 704, 79 and 99 the places they occupied within the lineup were more or less left empty; Pioneer began abandoning Laserdisc in 1996 as the release of the DVD format became close and a few less-capable DVD/LD combination players were all that remained available for North American consumers.