You are correct in that the cab should be able to handle the same or more watts than the head. My cousin has a Behringer 4x12 cab and he seems to like it ok. But... unless your church or wherever you play can hold around 1,000 people, with ought going through a PA, then a 4x12 is a little overkill. With your new price range, I would suggest buying a used Peavey Classic 30 and an Avatar 1x12 extension cabinet with an Eminence Governor speaker. Check them out here . That would be one sweet set up, and be under your $700 limit :D !