Be very careful as you go through this process.Your situation is ripe for a scam.Do read up on scams involving Craigslist - on the CL site, in this forum and by Googling the keywords Craigslist scam .Hope things go well for you.
Stick with paypal. Moneygrams can be faked.Make sure you list the item correctly. Mention any minor flaws, scratchs, etc. Take good pictures of the item.Only sell to a good buyer. I.E. check their reputation as best as you can. You might want to go with E-bay instead of Craigs list as E-bay has systems set up to safeguard both you and the buyer.Good Luck!
USPS money order is best. However, you will have trouble finding a post office with $700 in the till.Any other money order has to be deposited and then you wait 2 weeks for it to clear.