imagesc - as you noticed - can be realized by a common surface plot in 2D mode. A 'real' imagesc plot would hardly do anything else. If the GDI renderer is too slow on your hardware, I'd suggest to
- switch to an OpenGL driver, or
- decrease the size of the rendering output, or
- prevent from transparent colors (Wireframe or Fill), or
- decrease the number of grid columns / rows in the surface
Note, the GDI renderer is mostly provided as fallback for OpenGL and for offscreen rendering. It utilizes decent scanline / z-buffer rendering. But naturally, it is not able to deliver the same speed as hardware accelerated OpenGL driver. However, 700x700 output should work even with GDI - on recent hardware (at least a couple of frames per second, I would guess).