If you were certain to run TWO 212 cabs the majority of the time, I'd recommend the 1001, otherwise the 700 because it gets that great GK grind at less-than-excruciating volume, which is good if you're running a single 212 @ 8 ohms @ 370 watts (320 woofers + 70 tweeter).
With two cabs it will be 480 watts to the woofers (120w x 4).
Perfect.
With two cabs it will be 480 watts to the woofers (120w x 4).
Perfect.