Yeah i raced one in 1987, i jumped off a trick ramp at alvaston and the down tube came "unglued" at the headtube end, the toptube bent too. I somehow got a replacement under warranty/guarantee, not sure how, my dad sorted it out! The new frame lasted about 3 weeks before the same happened on a set of doubles at lochaber during gate practice. I borrowed a bike to race that day off andrea haltham, same bloody frame! I was rather tentative on it as you'd imagine.
Don't remember 'em costing £700 tho.... nearer to half that.
The ones i saw were about 50/50 branded peugeot or just plain old "vitus". The red-tubed ones looked really good. Not seen one since the 80's.