you end up paying a little more than what?
gribble says: The expected generation output, at 700000 Khps, given current difficulty of 434882.7217497 , is 1.61901089925 BTC per day..
you pay 700 = 1.46 btc per day (although you said HASH, whatever that means, i'm assuming you just meant Mhashes/s)
now let's do some math
1.46 / 1.619 = 90.179%
any proportional share based pool pays out more than 90%,
even pay per share pools aren't worse than your offer.
so there's only one reason left to take your offer and that would be a paypal-payout and most of us hate paypal anyway (and we might even get more out, if exchange-rate goes up).