I think 700 is a little low. I think 820ft is closer to what it should be for 1.7 At 1.9 I start at 890.
Really! LOL you must be jumping at a high altitude or I would also think that you have an incredibly long rotation or too long double fronts.
Back on topic;
You would be far better to stay on current canopy and learn to get 270s consistently. Much better for progression in the long run. Or you can downsize and get only moderate performance on it.
120 size is probably on of the best sizes, large enough to have range, but fun enough to get some awesome performance. You can do very large/powerful turns with this size wing. Learn to fly it well and you will be able to generate good power - it will also have the added benefit that you will be able to move much faster through sizes later if you spend the time learning and consolidating on this wing.
This is probably the most important time for you - invest in it now (time, coaching and jumps) and save yourself a ton of time, $$$ and trouble later. You will be a much better canopy pilot because of it.
EDIT TO ADD:
Just realised I did not answer the original question!:
After you were ready to downsize (after nailing the 120) I would think the 107 would be the way to go. If you really learned to fly the 120 very well the skills would transfer quickly. You could put sometime on this and then move to a 96 velocity.
I think the key thing is learning about the sight picture, being able to see/predict the corner/recovery arc and be able to fly well/consistently in all sorts of conditions. In order to do this well it takes time and a lot of jumps. (in my case it took me more than 300 jumps to start to do an ok 450)
Getting a smaller canopy does not help you do this. It does make us feel great because the canopy is faster while we are slightly worse off.
Anyway it is all dependent on you, your training/coaching plan and your attitude, etc. Get a good coach and consistently get coaching and go from there.
(This post was edited by Jiggs on Jan 7, 2013, 4:20 PM)