What bin 1W do you have? Is it a high dome? If you have a Q or R flux binned 1W, you can expect brightness levels that will approach the brightness of S and T flux binned 3W luxeons. I've driven many 1W luxeons with the DB700 will good results, but you do have to make sure that you have the 1W sinked properly to handle the heat.
Personally I try to stay with 3W luxeons for biases over 700mA and 1W's for biases under 400mA, keeping in mind that I usually use luxeons with Vf's of J or K. Anything in between is pretty much a matter of using what you have. This is, like I said, what I try to do.
If you have a nice RWOH or QWOH, or even older Q3H or R3H, it should make for a nice light being driven by the DB700, with good runtime for a light that bright.