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Whichever you decide on make sure you test it before laying out any cash. I would thread a piece of 2". If it can do that without huffin and puffin then I would say it's not yet past it's prime. You might also go through all the die heads to see if they cut without tearing any threads.
The 700 is the ultimate tool for service trucks, IMO. I use it on 2" quite often in the air for in place repairs. It also runs my 141 in a pinch. I would also say that if you are doing large (many threads being cut) the 300 is better suited but the 700 with a standard vice will get it done. It (700) will work you having to pick it up and down on those larger jobs, but it is a beast. For the deep wells I use m a buddies rig to pull them with the 700.