I'd have to say no...I don't have the A700, but am familiar with it, and the sensor is quite good...and on the A5xx series cameras quite excellent, so low light/night shooting isn't any problem at all with these cameras. There are two very different forms of low light shooting - handheld high ISO shooting, and tripod mounted long-exposure shooting. I do both types of photography, and heavy use of the Sony 18-250mm lens as well. I also have the Minolta 50mm F1.7, and use my Tamron 10-24mm ultrawide and Sigma 30mm F1.4 for low light work often too.
Night photography is one of my specialties, a favorite type of shooting along with wildlife/birding. For a browse of all my night photography styles with my A550 and many different lenses, including many shots from the 18-250mm lens:
http://www.pbase.com/zackiedawg/night_p ... y&page=all
Night photography definitely requires some technique and some practice. First off, the sharper results will come from using low ISO and long exposures on a tripod - that's with any lens. For sharp results handheld, the biggest issue to overcome is the need for very fast apertures (like your 50mm F1.4)...two problems arise - often these fast lenses are not at their very sharpest when used wide open, and are better when stopped down just a bit; and the depth of field becomes so shallow when shooting fast apertures that focus is critical to nail, and softness/blur sets in just inches off the focus point. This can be a desirable thing too - taking advantage of the shallow depth of field for those nice, soft blurred backgrounds...but can also render what appears to be a soft or out-of-focus image.
Your A700 should be more than capable of shooting handheld night shots at ISO3200 with a little cleanup of noise in post-processing, or ISO1600 straight from the camera. With the F1.4 lens at these sensitivities, that should give you the ability to shoot in extreme dark conditions. If you use long exposures and a tripod, your camera should become excellent, sharp, detailed, and noise-free by lowering the ISO, stopping down the aperture, using mirror-lock-up, and the self-timer on a tripod.
Sony DSLR-A68 / Sony 18-250mm / Minolta 50mm F1.7 / Tamron 150-600mm / Minolta 300mm F4 APO
Sony A6300 / 18-55mm F3.5-5.6 / 55-210mm F4-6.3 / 10-18mm F4 / 35mm F1.8 / 16mm F2.8 / FE70-200mm F4 G OSS / FE70-300mm F4.5-5.6 G OSS / via manual adapter, lots of Pentax K mount, Konica K/AR mount, and Leica M mount manual lenses