Re: Do you think this thing is worth $700?
That swirl looks awfully familiar. Definitely not an official Jem of any kind, but all the parts seem legit enough. Could be an aftermarket body I suppose, hard to say, but not really that important either. I believe I'm seeing headstock binding, which would seem to make it a 700-series neck as mentioned, which is a bonus. Aftermarket green Ibanez logo though, for what that's worth. The "WALRJ-T24" on the heel is completely irrelevant, that's not a factory stamp.
With an Original Edge, what appear to be real Dimarzios, and the aforementioned neck, the price is reasonable enough if the particular swirl is your thing. Just keep in mind that this is a custom finish and a guitar modified and assembled aftermarket, which is not necessarily a negative, but possibly worth considering. It may or may not play as well as advertised, but if it does, it's a good price if you like the finish.