I'm not a big fan of Leupy for the long range game, assuming you're planning to dial for elevation. I had a 8.5-25 MK 4 that was so bad that they replaced it after failing to fix it twice. My experience is not uncommon. If you're going to be serious about it, you might consider a NightForce. It's more money, I know, but I found it to be money well spent.

If I were you, I'd buy the 700 now. If you can't afford the right glass, go find a used Millet TRS-1 or equivalent to get you shooting. It'll sell for what you paid when it's time to upgrade. If you choose rings and tube diameters carefully, you might be able to use the rings again.