I have an older pair of Shimano S-Phyre shoes with 18,000 plus miles on them. I think they are the first-gen S-Phyre shoes, so my following comparison is with these. They are super comfortable, but my left one is ugly due to serious scuffs from a bike crash I had a couple years ago. I chose the RC703 for a replacement since it adopted much of the design from the S-Phyre model. After 600 miles of use, I can say the 703's foot comfort is almost the same as my old S-Phyre. I personally can't tell any difference in the stiffness between the two models. The 703 toe-box is similar, but the S-Phyre's might be a little better form-fitting on my feet.
Shimano seems to have saved costs on the interior of the shoe and its footbed. The 703 doesn't tout the Silvadure treatment, but I used a nanosilver spray on the inside of the shoes and footbed for an antibacterial and odor guard. So far, the bright white outer surface seems to clean up nicely with a mixture of Simple Green cleaner in a spray bottle. Hopefully, the heel pads will wear longer than those of my S-Phyres. Although they have two BOA closures, they are not the LI2 BOAs that can both tighten and loosen without pulling up on the dial. That's a small sacrifice to put up with in order to save a lot of money. I do recommend these shoes for anyone wanting the feel of an S-Phyre for much less cost, especially when on sale.
I've had this model shoe for several years and beat it up on a minor fall, so ordered a new pair and they fit perfectly (same size 45) and have more ventilation. The forward BOA was redesigned a little, but otherwise a solid shoe. Note: I like to slide my cleat back to alleviate foot pain, and this is the only pair I found that had enough adjustment.
These bad boys are not only stiff af, but they also got that clean look at a reasonable price. Go ahead and grab the S-Phyre if your shaved leg Fredulite friends on plastic spaceship bikes are teasing your for being a normal person that can't spend a trillion dollars on gear. This shoe is made for us mortals who love riding but couldn't be fudged to care about what Fredulites think as you drop em.
I really like my RC7, nice texture. Great value & it is my second pair. They are great all around!