I had the same slight dilemma, but bought one anyway; I would do so again under similar circumstances.
I also have a pre power x feed genuine S7 changewheel model.
Yes main spindle is on taper rollers and uses grease; as far as I can tell, the rest of the lubrication is as per genuine Myford S7.
For those not aware, the 720 is a 70’s/80’s copy of a Super7B with power cross feed.
Quality of parts isn’t up to Myford, and some of the shafts, such as where the belt adjustment fits, are mild steel so subject to wear; clearly they could be re-made.
I had an issue with the clutch, where it would spontaneously engage, so I needed to modify the cross shaft a bit, but again, no major issue.
The rack on mine was a bit short, so the saddle ran off the right hand end, but I replaced it with one from an ML7 so fine now.
Metric threads can be cut using the 21/33/34 gear dodge, but you will need to budget for a genuine Myford stub/drive gear, as the Warco one is a single piece twin gear, so you can’t change just the drive gear for the 33 tooth one. Other than that, it works fine.
It’s an imperial lathe with an 8tpi leadscrew, but the fittings are metric, so for 1/4″BSF think 6mm, 2BA 5mm etc.
Mine has a Newton Tesla 750 motor package, which I’d certainly recommend.
Some accessories certainly fit, I’m using Myford steadies and a taper turning attachment
If you’re anywhere near Buxton Derbyshire, drop in for a brew and play with one.
Bill