700 miles is pretty good use for a classic bike. Did it sit for a while, say over a winter or while you rode other things? When a customer brings me a classic bike or a classic car that has turned up running sour I always have a sniff of the gas tank and then a look in the float bowls. Incidently, aviation gasoline has a virtually unlimited tank life for storage, leaving only the leak tracking dye behind when it evaporates. All my old machines are stored full to the brim with it.
You have to know a pilot to get the stuff but that's the only drawback, most of them are tolerable people, just. Oh, and it is death to catalytic converters.