|Frequency Response||20Hz - 16KHz||20Hz - 20KHz|
When looking at the specifications, you may think that the BM-700 should have been the microphone that came out on top, but when listening to the actual sound produced by each microphone the NW-700 is the real winner.
The NW-700 had a much tighter low end and provided more accurate audio reproduction. This led to less booming with the acoustic guitar and vocals, and much better electric guitar sounds.
Both microphones require a minimum of 4.5v to work well, but can run using a full +48v of phantom power without damaging them. Either microphone would be a fine addition to your cheap microphone collection, but if you only have the budget for one, I would recommend the NW-700.