The Dual 701 was sold from 1972-1976. It was Dual's first direct drive turntable.
It doesn't have any gears in it. It uses something called "Hall Effect" coils to move the turntable and the speed is monitored by a speed control board. These turntables have a lot of torque to them. Back when the 701 came out, Stereo Review magazine found them to be the quietest turntable they ever tested. They were sold for about $400.00 new and go for about the same today. The strobe light, like the 1229 & 1229Q is seen in that little circular window on the front left side of the turntable. The actual strobe marks are on the bottom of the platter. A mirror reflects the strobe markings up through the little window.
One interesting thing in the 701 is that there are adjustment pots on the hall effect coils on a 701. But they should NEVER be adjusted! The reason being is that if you don't get it right, you never will. These were adjusted in the factory in Germany and nobody today knows/remembers how they were adjusted. It was a trade secret. So if you mess them up, you'll have a nice parts unit on your hands.
It's funny you should mention P+E. They were a competitor of Dual's for many years. In 1971 Dual purchased P+E. A lot of P+E turntables were used in OEM applications. In fact, in the mid 70's there were a lot of similarities between the Dual and P+E turnables.