This is straight from Palm's website which confirms that the 700w does have MMS built in
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Create and send an MMS message
If your wireless account includes MMS, you can start sending and receiving messages from your smartphone immediately. There's no setup process like there is with email.
Launch the Messaging application.
Press Left or Right on the 5-way control until you see "MMS" in the title bar.
Select New.
Enter one of the following in the To field:
A mobile phone number*, such as 650-555-1212
An email address, such as
johndoe@palm.com
Enter a subject, if desired.
Select New Slide.
On the next screen, select [Add Picture/Video]. Choose one of the following:
Add Picture: Select an existing picture, or select Camera to snap a quick shot.
Add Video: Choose an existing video, or select Camera to record a new video.
Add Sound: You can pick an existing sound, or record a new one.
Once you've added a picture, video or sound, select [Add Text] to create a caption.
You can stop here, or you can add more content.
To send the message now, select Send at the bottom of the screen.
To add more content, select Menu, then select Next Slide. Repeat the process to add a picture, video or sound.