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SpecsUpdate
Pros
Pro Has a good flip out swivel-and-tilt touchscreen
700D has a 3:2, 1.04M-dot swivel-and-tilt touchscreen with support for multitouch and gestures.
Pro Continuous AF for video
700D has a hybrid sensor that combines contrast detection autofocus and phase detection autofocus. For continuous AF tracking while filming the camera first approximates the focus using phase detection, then uses contrast detection to more accurately adjust the focus.
Pro Good 18-55mm kit lens
The lens has good focusing when shooting movies, up to 4-stop image stabilization and a close, 0.25m, focusing distance with internal focusing (meaning it doesn't extend when focusing).
Pro Stereo on-camera mic
700D is the first EOS model to have a stereo microphone built into the camera.
Pro Magic Lantern support
Magic Lantern is a firmware add-on that extends camera's functionality by adding a wide variety of features including the ability to adjust white balance by Kelvin scale, Zebras for over and under exposed areas, focus peaking, RGB histogram, and many, many, many others. The software is open source and available for free.
Pro Touchscreen allows quickly setting the AF point
You simply tap the screen to manually set the AF point.
Pro Good phase-detection subject tracking
The 700D uses 9-point cross-type autofocus and allows for hybrid (phase detection and contrast detection) AF as well as phase detection-only AF. Phase detection autofocus is fast and reasonably accurate.
Cons
Con Touchscreen can't be used with regular gloves
Because the touchscreen is capacitive instead of pressure-sensitive you either have to use your fingers or special touchscreen gloves to interact with the touchscreen.
Con Viewfinder lacks coverage of scene capture borders
The outer edges of scene capture can't be seen in the viewfinder. The viewfinder covers 95% of the area so you can potentially include unseen elements in your images by using the viewfinder.
Con Buying just the body is overpriced
The body of 700D costs around $650 while it's possible to get the body along with a 18-55m lens for around $600. For the same price it's possible to get the body of a newer generation camera.
Con Slightly noisier than competition
650D is a bit nosier than competition between 1600 and 6400 ISO.
Con Dynamic range could be better
According to tests performed by DxOmark 700D has 11.17 stops of dynamic range in print and 10.58 stops on screen for images taken at 100 ISO while cameras in this price range commonly push 14 in print and 13 on screen.
Con Battery life shorter than competition
The 700D has a 1120 mAh battery. It's CIPA rated 440 shots per charge.
Con Exposure compensation can be difficult to reach when using the viewfinder
With your face pressed against the viewfinder the exposure compensation button can be uncomfortable to reach.
Con Slow hybrid autofucus in live and video modes
Finding focus is considerably slower in live and video modes when compared to modes that use typical phase-detection.
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