There is no one-size-fits-all answer. If your master can support the combined load, and if the load on your clients (from checksumming on their side) is acceptable, then you are basically ok. Beware, however, of the load creeping up as you add more Files, and mind that your master's client capacity is affected by how much work it must perform for each client.
Note, too, that there are multiple possible approaches. If the file(s) you want to serve is static and doesn't change too frequently then packaging it up and managing it via a Package is a good solution, and I would certainly consider that for a 700kB file. Especially so if it's part of a collection that you can package up together. On the other hand, you can also reduce the computational load by switching to
a lighter-weight checksum method, at the expense of a greater risk of Puppet mistaking whether the File is already in sync. Or if you put it on a network file server accessible to your clients, then 'source'ing it from there works, and spares the master from checksumming.
John