I don't think there is any "official" limit. Overburning uses various non-standard methods to work around the limits defined in the standards, and it depends a lot on the program and quality of the media you're using.
Also, you can't go by the disk label on these things. "700MB" is just a round number, and it's not even an accurate one, since advertisers generally use 1MB=1000KB instead of the true 1MiB=1024KiB computer standard conversion to make the capacity sound larger. You'd have to find the exact capacity of the disk in KiB, and the final burned size of the iso to know for sure if it would fit.
Is this a home-made remaster, or something distributed by someone else? If the latter, then chances are they've made sure it will fit on a standard disk. Otherwise you'll just have to try it yourself and see.
In any case, I suggest running the burn in simulated mode first. That way you won't be out a disk if it fails.
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