I think thickness has more effect than the slight difference in density of the two materials. So 6" of 703 might out perform 4" of 705. Also the foil backed stuff reduced lower frequencies slightly better in Ethan's testing. I have been buying an even heavier material that is the same price. It's called Roxul and it is 8 Pounds per Cubic Foot. Very dense as it is fiberglass and rockwool. the 703 is 3 PCF and the 705 is 6PCF density. If you can find Roxul, and get it with the foil, that is the highest performing stuff I have seen available.
But again, 6" is going to outperform 4" even at half the density. But 4" of roxul might outperform 6" of 703. Ethan....what do you think?
If you can afford to go with the Roxul or 705, do 6". always er on the side of over-doing it. Better than not enough!