The Point Blank 701MLF is way overpowered for this application, at ERN 19, not sure what the RAD is but I think it's on the PB web site. Moot point if it's way too powerful. Where is your data for the P700 coming from? I cannot find it. 5.7 ERN ("magic rod") is about 110 grams CCS. 177 is almost a 9 ERN CCS.
This subject is under discussion on two different building forums, and it's plagued by the use of subjective descriptions, which are a crap shoot. The fact is that this BFS is a relatively new application and requires, if I understand it correctly, a rod that is about 7 feet long, "low" power, relatively "fast" action compared to the usual short "ultra lights," and there are very few blanks if any that fit. Trying to find one with the usual subjective descriptors of "drop shot," "ultra-light," "medium light", etc is just not going to cut it. While many have reservations with accepting the objective descriptions of CCS, there really is no other way to be confident in finding a blank that satisfies the requirements of this application. I thought that the P700 was the "magic" blank that worked, and that it had an ERN of 5.7 and an AA of 65, but if that is incorrect, show me the data.
Stick with it, folks, we will get to the right answer.