Yes please help! I am in the same boat I too have the M701R I've tried Z4root versions 1.1 1.2 and 1.3 and it just spins and spins with no completion has anyone been able to root the 2.3 version of the M701R yet?
Good news I was sent a file from merimobiles.com to root the M701R running 2.3 gingerbread it is a simple adb script to run and the process takes only 10 seconds if anyone wants it let me know and I'll send it to you.