Best full size $700 or less revolver?

The best full sized revolver is indeed the S&W 686. A close second is the Ruger GP 100. In reality, you can go wrong with either gun. Pick the one you like the best and know that you made the right choice.
 
With that price range I would go with a Ruger GP 100 or Ruger SP 101, Rugers makes great revolvers and they are built like tanks. The Smith and Wesson 686 is good too, but more expensive.
 
Majority opinions are correct

It's nice you have this much to spend because it puts you right there for either a Smith and Wesson 686 or a Ruger GP100. Both are really fine revolvers and you cannot go wrong with either one.
I chose the stainless 4" bbl 686+ because I always wanted a S&W revolver and wanted to have the 7 shots, more is always more fun. My brother got the stainless 4" bbl Ruger GP100 and both of us cannot be happier. We had a chance to go out this past Sunday and shoot both and compare them side by side. What I found was the double action trigger was a bit lighter on the GP100 while the single action on the 686+ was lighter, very light in fact with almost zero creep before it goes boom.
Side by side the Ruger GP100 is certainly beefier and does weigh 40 oz. vs 38.9 oz for my 686+ but both guns feel substantial in your hand. The accuracy is similar and the mass of both absorbs recoil well. One great feature on the Ruger were the full rubber grips which covered the backstrap and helps with with felt recoil. My Smith has an exposed backstrap but that is fine with me.
I suggest you handle both and decide for yourself, as others have mentioned you will pay a bit more for the Smith. You can also get the S&W in either 6 or 7 shot and will pay accordingly.
 
You can't go wrong with any of the three. Personally I have a soft spot for colts. If you can make it to a larger gun store and feel all three.

On another note my buddy has a python and its a fantastic shooter.
 
I really find the Smith and Wesson Model 10 to be perfect for my needs. If I wanted a good magnum I'd go with the Smith Model 19 or Ruger GP100 (or one of the six series)
 
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