For side-by-side comparison, I don't think you need anywhere near a 50% reduction in light intensity to see a difference. I believe (although I could be wrong) that you are thinking of the necessary change in intensity to notice a difference when a single light source is gradually dimmed.
Regardless, I agree that it sounds odd that the 700mA drivers are creating more intensity than the 1000mA drivers--or are even close. I have played around with a single Cree LED on a dimmable 1000 mA buckpuck and can definitely see a difference as I turn the pot to vary the current over the range of ~400-1000mA.
Just to make sure, are we talking about the same type of LED's with the same optics on both drivers? If so, do you happen to have a multimeter laying around that you could use to determine whether or not the two drivers are actually delivering their advertised currents? I have high-quality multimeters and oscilloscopes at work, but the only thing I have at home is a cheap multimeter that won't measure anything above 500mA.