You think two of those subs only getting about 175W a piece would be good enough? I'm sure they're overrated at like 350W RMS, but will 175 move them well? And with the TRs, or similar components, I'd be concerned with the midbass output...especially only giving them HU power, which is at the most 50W from a panasonic unit that's out of his price range.
In his position, I'd take a listen to VRs, because I think they're a great all around speaker, and they admittedly sound good on 26W or so, but would be better with the 50 of an amp. Plus, with an amp, you get crossover control, so that you can get the speakers to do what you want. Again, though...you end up on the short end of the stick with the subs and bass output.
Hmm...rethinking...say he goes with two amps: Alpine MRP-T220 and the MRP-M350. That's 330$ there...but it gives him a good amount of power to play with: 50 up front and 350 in the back. If he can get 2ohm comps up front, he can have 70W up there. Anywho...then he's got 370$ to focus on getting a sub, components, wiring, and a box. I think a great sub can be had for ~100-150$. Good components should be around that...maybe Alpines or the Kickers that I've heard good things about. It'll be a little more in total than 700$, but I think that it'd be better than trying to skimp, yes-no?