FWIW, this is essentially the same saw as my Steel City hybrid. Save for the fence, both this Sears model and my Steel City model mostly share the same Orion part numbers.
I can't tell from the photos, but if they replaced the original Biessemer (sp?) fence with the same fence as used by Steel City, then most would consider that to be a positive upgrade (Steel City's fence generally gets better reviews then the original Biessemer fence).
I can speak for my Steel City being a very good saw. At $699, a new warranted saw of this type is a very fair price IMHO. Now, if you are getting a used or floor model, then that price should come down cosiderably, but for a new and warranted saw that is a very fair price to me. That said, given that it is on clearance you may have success in negotiating the price down further (I paid approx $800 for my Steel City saw 4 years ago). It is a lot more saw for the money than most of the competition in this price range and includes robust trunions mounted to the cabinet -- not the tabletop as with many other hybrid saws in this class.
It is as close as you are going to get to buying a cabinet saw, for the money, without buying a much older used cabinet saw (though such saws can still be very good deals for those with the mechanical skills -- and tools -- to restore and maintain them, especially where replacement parts are still available).
Just my opinion, as an owner of a very closely matched sister table-saw.