I received the new improved version of the G704 a week ago. The lock is perfect there isn't any vertical (or horizontal) blade play. It seems they managed to eliminate the faults of the previous version. Another advantage of the new version is that it has a 4mm thick blade with 6mm thumbstuds. A few pics of mine.
Correction to the previous posts: the blade finish is bead blasted not stonewashed on both version.
Yup, received mine today. Bigger studs, 1/2mm thicker blade. That makes the handle a bit thicker too of course. And it feels much better in my hand. I have small hands yet the older version felt somewhat thin. The new one (you may think me crazy) feels noticeably easier to hang on to. No blade play either, locks nice and tight. If you wanted this one but were holding back 'cause of the blade play issue, now you can get it. Enjoy...
I realize this is an old thread, but I can’t seem to find the answer in reviews.
how is the blade retention on it? By that, I mean how well does the blade stay in the folded position.
A youtube review on the G710 showed the blade pops out easily on it’s own, which worries me for tip-up carry. I want to know how well the G704 holds its blade before I buy it.
Thanks for your input. For the price I suppose I shouldn’t be expecting too much of it, and it probably won’t be too big of a problem since I edc my current large blade EL-01 in my backpack anyway. It’s nice that these knives are the price they are, if all else fails it can make a nice cheap gift 
Mine also doesn’t have any blade play and the blade is well centered. The only little “cons” I would add to the list for this new version is that the buttons (of the axis lock) on each side don’t protrude enough from the very well made G10 scales.
As it was said, it is a bit heavy and I will probably drill some holes in the liners in a near future.
Amazing for the price. It is sold in the “Special Limited Products” tab at exduct.com: Ganzo Pocket Knife SP-G704 US$13.98 + shipping.
Tally-ho: Great pics!
I would agree, those studs are a bit too flush but at least they are smooth to hold and operate.
Knife is indeed a tad on the heavier side but IMO, it adds the heft / quality -feel on it.
Notice also the thickness of the blade, which is 4mm.
I would rate it also a good deal for the price.
Extremely impressive, you’d usually expect this from a Spyderco or Cold Steel.
I noticed that my G704 has 440 written on the blade unlike the OP’s blade that says 440c. Is this just a typo or are they skimping on the steel?
While reading about steels, I read that sometimes blades are marked “440 only” if they are anything other than 440c. Here at Knife Steel FAQ It says “If your knife is marked with just ”440”, it is probably the less expensive 440A; if a manufacturer had used the more expensive 440C, he’d want to advertise that”.
I do like this knife. It is my second favorite budget pocket knife. I gave it to my father.
For the price you can’t go wrong, regardless of the steel. I wouldn’t be too surprised if something coming from China wasn’t exactly what it was claiming to be, but that can work both ways 
I think they just dropped a letter, looks like they tried to make the branding and writing less flashy, shrinking the details to near the choil and making the Ganzo logo a less visible washed out grey. Also appears they also moved it down closer to the cutting edge, so that it is hidden when the knife is closed and thus less obvious as a non-HK knife.
Just my two cents
Mine came in a few days ago, and I’m really impressed. The G10 feels much finer and smoother than the EL-01 and SRM 763, and the way it is rounded and flush with the steel liners is amazing, feels really high quality.
Physically it is smaller than the EL-01, but feels heavier due to the thick blade and non drilled-out liners. Ergonomics are really good, although for my hands the EL-01’s contours and gimping feels slightly better. The axis lock is really smooth and lockup is solid with no bladeplay. As previously mentioned, the axis lock studs don’t protrude much from the body, so one finger operation can be a little tricky. The axis lock spring tension is perfect, loose enough to comfortably operate and flick open, but strong enough to keep the blade securely closed (unless you flick it downward really hard).
Mine came with only two plastic (teflon?) washers (one on each side), but they do keep the blade centered and are pretty smooth, so no complaints. The matte grey coating on the blade is also interesting (no smudges!), and I hope it holds up. Black coating on the screws and clip also seems to be holding up well and there are no visible tool marks.
Overall an awesome knife, I’m definitely buying another in the future. I was hesitant to buy as the quality of Ganzo has been known to be a step below SRM/Enlan and it is a little more expensive than most other chinese knives, but the new version is definitely a keeper.
Is there anything whereof I can notice a the difference between the New 704 and the old 704?
It isn’t easy to notice on a picture, if the blade has 3,5 or 4mm or if the bolt is bgger.
From my knife, it is the newer one but the blade isn’t exactly 4mm (as stated here earlier), but it doesn’t matter because it is still plenty beefy enough.
You can differentiate the old and new G704 like this: The new G704 has the Ganzo logo in a more grey colored lettering and further down near the blade edge (older one had it darker and up in the area beside the thumbstud and thumb ramp). The new G704 also has the Model number “G704” and Metal “440” stamped between the thumbstud and hilt on the side opposite the logo, whereas the old one had “440C” stamped on the same side as the Ganzo logo
Like on the pictures here:
Thank you M1K3Z0R and Tally-ho - now I notice it
I made a quick test on the blade finish, it is definitely coated with a matte grey paint (?) that is very easy to remove. It is not as obvious on a picture than in reality: look at the transition between the matte and “shiny” parts near the thumbstud.
Got mine. Feels solid. Good size. It’s a handful of knife. Feels well made. I bought mine from Bill at Doing Outdoor.
I recently bought one of these. Very sturdy and solid, but came from the factory about as sharp as a steel bar.
Still, a bit of time on my sharpener and I could shave with it. Some of the paint did rub off though.
Exactly as mine… but i don’t mind the rubbing thing, since i don’t like the coating… tought a couple times of removing it from the whole blade. Anyway, once sharpened with the stone, it was like a new knife… just awesome and freaking beefy.
Ganzos do seem a bit inconsistent. I just received the G712 from Aliexpress (EDC Gifts, awesome seller) and it is like a razor straight from the box. It came with a G301 multi-tool that I ordered and that’s definitely a chunky bit of kit. Maybe a bit too heavy to replace the Leatherman Kick/Micra combo on my belt though (G704 on the right) but definitely a decent tool.
Speaking of sharpeners, the one you’ll see on eBay advertised as a professional kitchen sharpening system is decent enough, you just have to remember to replace the screws holding the vertical part of the frame to the horizontal, they have about 2mm of engagement with the other part. I used 2 6G x 20 self tapping screws, and 1 6G x 15, and used superglue as loctite. Rock solid with adjustable angle.
It’s a copy of a really good sharpening system, which is definitely better, but I didn’t have $200 free. $24 was more in my range.