how did you get the board to 700mhz???
I've just followed instructions on this site:
with only two exceptions:
1. Pegasos I bus freq is 100 MHz, so setting multiplier to 7 (only one "jumper" is closed) means 700 MHz, not 931 MHz like in table on the site above.
2. After removing the resistors, I've replaced the needed one with a drop of solder.