A:
Yes. It has just a few additional features compared to the SB600. With the D70, it supports:
i-TTL, M, GN, Advanced Wireless Lighting (Master, Remote, or SU-4 mode), Color filter information transferred to camera, FV Lock, Rear curtain sync, AF-Assist illumination, Red-eye Reduction, AutoFP high speed sync, Firmware update capable
I have both the SB600 and SB700, and they work well together with the SB700 as a Master. The controls are a bit easier to use on the SB700.