Another option for the Nikon D7000 rather than the SB-700?

Is there another speed-light available that is compatible with the D7000, but is less expensive? The SB-700 is really pushing it for me if I were to purchase it…

The 600. Bit less fancy but it still does a good job.

Are you desperate to have TTL flash control? If yes, then the SB600 would do, or you might be able to pick up a second hand SB800 (although the resale price is pretty high).

If you can learn to control a flash with manual power output, then suddenly your choices are vast and your budget will stretch to a LOT more.

I have a D300 and a couple of Nikon speedlights & its great to use the Nikon wireless system (which the D7000 has) to fire them off camera & be able to set power manually or use TTL. BUT the system can be unreliable as its optically based and TTL metering does not always get the exposure right - and because you don't know what power the flash fired at its difficult to reproduce consistently.

I spent money on buying Nikon branded products that, whilst useful, could've been better spent.

I've now gone over to manual flash and radio trigger systems for pure reliability, range and cheapness. I highly recommend a Yongnuo YN560 flash - about the same spec in terms of power output/zoom capability as an SB800 - fully manually adjustable to 1/128 power. Costs £63.

To fire it off camera I use Yongnuo RF602 triggers. About £27 for a set of one transmitter + one receiver.

That gives you off camera (or on camera) flash for a fraction of the cost of an SB unit (SB600 is around £220). If you want to add a modifier (softbox or umbrella - £43) and a light stand (£10), you'll have the basics of a good off camera set, with full manual control (not TTL).