700W is an automated audio normalizer. Unlike a conventional compressor, it only acts where you need it. Its main field of application is to enhance your endmix. You can gain some loudness even after the limiter, or get rid of single spikes.
700W is easy to use: Just lower the threshold as long as you don't hear disturbing artifacts. Try the different strategies for a soft-knee effect, at the zero-transitions of the waves 700W normalizes.
Currently there's 32bit and 64bit VST versions for Mac and Windows, also there's an AU version for Mac. 700W was developed together with intelligent sounds & music.
Markus explains the theory of 700W in German.