As you have found, reading the others comments, your friend is sadly mistaken.
The LYMAN BLACK POWDER HANDBOOK & LOADING MANUAL 2nd Ed. shows several different velocities for a patched round ball loaded over 60 grains of powder in a .45.
The data is for a 28", 1:48 twist barrel.
Shooting Goex 2Fg = 1614 fps. Goex 3Fg = 1719 fps, Elephant 2Fg = 1645 fps, Elephant 3Fg = 1609 fps, Pyrodex RS = 1663 fps, Pyrodex Select = 1698 fps and Pyrodex P = 1738 fps. (Elephant powder is no longer available. When it was, it was noted for the heavy fouling it left in the bore.
Usually, Elephant was weaker than GOEX.)
As you can see, there is variation between the powders and I suspect Swiss would add about 200 fps to the above values.
In any case, 700 feet per second is well below the .45 caliber balls velocity even at 100 yards which is typically over 900 fps.