705's - softer - ideal for an empty vehicle with no constant weight
701's - "normal valving", this is what was designed for this vehicle with any loads
The 705's have softer slow speed compression valving, making it feel softer on small bumps and cracks in the road, etc. These would allow for more body roll on a vehicle with a roof rack or any constant weight.
The 701's were what was first designed for this vehicle platform. They're not as soft in slow speed compression.
High speed and rebound valving is basically the same between the 2 shocks, so offroad, you wouldn't notice much difference except for body roll of the 705's.
Now a vehicle with KDSS really doesn't have body roll hardly at all, so that's something else to consider.