The 701 is a fantastic cut of denim - I'd highly recommend it.
My second option before I decided to size up was to just go for a 201. Those are pretty roomy, a standard straight leg with very slight taper for shape's sake. I think you may really enjoy that cut if you're heading MC, as you say .
+1 on the 0701 comment.
The 0201, if sized right, can be a really flattering pair of jeans. As in, it can fit really slim. Not like the 0701, though.