Always and as a good pratise you should upgrade your see 704 server to 705 -- I don;t see any fun in installing see 705 on a new server. This will create confusion -- let me tell you how --
you have 704 running -- this server will have its own set of keys that clients will have and they will talk back to the server. now if you install 705 on another server then it'll have itz own set of keys. now if you upgrade a client machine that has 704 to 705 -- see version will get updated but the client machine will not talk to the 705 server --- then you need to change keys and unnecessarily go into complications.
keep your setup simple and clean - this will help you. Upgrade the see 704 to 705 -- create client packages and push them to the client machines. client machines will check in without any issue