The initial 'installer" download size is around 700MB BUT the final install size is around 4.5 GB. ALL of that is eventually downloaded!
During the initial install when you run the 700mb installer it will load approx 3GB. The rest will be downloaded as you open the individual applications and use advanced features in the applications. Individual applications add approx 200-500MB as they are loaded.
Unfortunately the "Traditional" MSI install is only available through volume licensing