So, im looking to buy a new Dobyns Champion XP. I want to get a rod that I can throw between 3/16-3/8 Texas rigs on, 1/4-3/8oz jigs, swim jigs, chatterbaits, kind of like an all-around rod. I've heard the 703 is a lighter rod although it's labeled "medium heavy". What do you guys think? 703 or 704?

The tips is a bit lighter compared to some other brands but they transition into plenty of backbone.  If I was fishing baits close to the bottom of the 703's rating ( a 3/16 weight plus the weight of a plastic lure put you around 5/16 or so) and staying with baits that would not weigh more than say 5/8 or 3/4 than the 703 woud be my choice. Otherwise I would go for the 704, They are both nice rods.

One more thing to consider is the cover you will be fishing. If you need some power to get a fish from hanging you up on a dock piling or heavier vegetation the I would go for the 704.

 

I own a Champion DC705C (just to give some perspective on how these rod match with their rating). It rates as a 7 foot Mag heavy fast action rod, rated for lures between 3/8 and 1 1/2 ounces.  That sound like a pretty stout stick. It does have plenty of backbone( heck I think I could pull a truck from the bottom of a lake) but it has a tip that easily throws a typical hollow bodied frog and works it well.  It is great choice if I want to throw a 1/2 or 3/4 ounce football jig on a deep ledge or a carolina rig using a 1 ounce weight.  It also feels so well balanced you think you have a much lighter action rod in your hand.

i prefer to fish slightly lighter in power anyways and would use my 703 for what you listed here.  if you're a guy that prefers to fish a little up in the power rating then a 704 would be better suited for you.  

I just fished my new DC703c yesterday for a bit and was pleased for what I was tossing around (spinnerbaits and a couple 3/8 jigs and also threw a 1/4 shaky head) was beyond pleased on how it fished and it had tons of sensitivity in it. when I first got it in my hand I immediately thought "this rod feels light" meaning it's more like a medium instead of it being a meadium heavy but after fishing it noticed it fell more into the medium heavy feel but the rod is extremely balanced. my next rod will be a DC704c for just strictly tossing jigs and dragging them around in that 3/8 and up window though