I'm a bit less curmudgeony. I'd say both actions have their advantages-
The M700 has quite the track record, and an abundance of aftermarket parts and mods available. It's been used by everyone who's anyone, and there are a number of fairly affordable models for the financially challenged 99%.
The Icon, on the other hand, is far more modern, and features a number of small improvements the M700 does not. Things like a three-lug bolt, interchangeable bolt handles, guaranteed MOA accuracy, and standard aluminum bedding block. But, you won't be picking up any Icons for $450 either.
Prices aside, with the recent downward turn in Remington's quality control, and TC's excellent features, I'd pick the Icon hands down for an out-of-the-box hunting rifle.
Now, if I were just buying an action to have trued, barreled, stocked, bedded, and turned into a custom rig... the M700 gets the nod.