I have the same sled and complained about the exact same thing. Sled felt really heavy on the front end and steering was non existant
Here's my .02 cents worth and what I did.
1. I moved the handle bars back towards me to the #3 from the gas tank. I tried to ride it with them forward too and it felt just like you're describing.
2. I put 6" risers on it. (that's what fits my height, I'm 5'11")
Those 2 things helped alot, but steering still sucked. So...........
3. I removed the sway bar.
4. Replaced the crappy stock shocks with Fox Zero Pro's (mine had 3K miles on them and were beat, I actually broke one of them which prompted the Zero pro's)
5. Check your limiter straps. Pick up the back of the sled til the scissor hits the stops, does the front of the track lift off the ground a little or feel loose? If so, let them out from the middle hole to the bottom one
I did a few mods to my rear suspension as well. Curt at FasTrax gave me some ideas and pointers.
I took it out today and it rides like a completely different sled. Its a little darty on the trails from the lack of swaybar, but off trail it carves and lays over beautifully now.
Guidoxpress is spot on in his comments too, I've heard the exact same thing from many others. I was going to do skis first but was advised to try the things I listed first. Like I said, its like a different sled now and I love it.
Next for me is Grippers and then Holz or newer Dragon spindles.
PM me if you want to chat about the sled. I love this 700 and I've gotten awesome advice on these forums about it.
Skis Poll:
http://www.snowestonline.com/forum/poll.php?do=showresults&pollid=243