A PO installed LED bulbs in the "R100" Lucas headlamps on my Bentley. I got a set of incandescent bulbs as part of the sale, along with a warning to "change back when you go to a show!" Nobody has dinged me for them so far.
The bulb on the R100 model is hidden behind a shield, so they look perfectly stock to everyone but a knowledgeable concours judge. Unless you are looking for it (and you know what to look for), you can't tell.
They throw a very white light down the road. I would bet (based on experience with pre-war American cars) that they are brighter than stock. And the manufacturer designed the bulbs to emit light in a similar pattern to an incandescent, so the pattern off the reflector is similar.
Does the PL-700 have a similar shield over the bulb? If so, you're good to go!