I would shy away from having to play games to get a title. Plus, while the mods are nice $700 is a lot to pay. The KBB on a used 2008 150cc scooter is about $390 (I checked). I would stick to your original plan.
This is a bargain
http://austin.craigslist.org/mcy/4486702687.html
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2008 Eagle Milano 150- 9,679 miles
2009 Honda Rebel 250- 10,434 miles
2009 CF Moto Fashion- 16,023 miles
2009 MC-114 50cc Cub Clone- 4,317 miles
twowheeler.yolasite.com/
That's 30,049 China Scootin miles and Counting.
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