I just purchased a used 696. I'm happy with it so far. It's got more power than my SV and the suspension works well for me. Plus, cost of entry was much cheaper in my area than the 796.
People here are always happy to spend YOUR money!
I'm aware you had a budget. Nothing wrong with s 696; 796 is just better on a lot of levels. When I bought mine, ABS was standard and with the swing arm and extra torque, the $1,000 difference was definitely worth it.
If yours doesn't already have one, consider a 14T front sprocket if you want a bit more "go" and an easier bike to manage in traffic. Just be sure to fit the right one!