Spotted Wobbegong - I take it you mean - Orectolobus maculatus. In which case - I hope you realize what a Monster shark your going to have on your hands. The 700 gallon tank - won't be nearly large enough.
And No - I wouldn't suggest keeping an Epaulette with a Spotted Wobbegong. Unless you don't mind the idea of the Eppie end up as a meal for the Wobbie.
the SPOTTED WOBBEGONG I have is only 12".and the epaulette is the same size dose that matter or is it still a bad idea ....
I am worried about the Wobbogong just waiting in the rock and taking a bite out of the Epaulette and I was reading that the Epaulette hangs around the rocks....
but was not shier since the wobbogong leaves the blue spotted ray and my smoothhound shark alone in my pond...
You would be risking any fish or shark that could fit in your Wobbies mouth. Even if it would work out currently your Wobbie will outgrow the Eppie running a high risk in the future.
Scripps surprised me by keeping some big Spotted Wobbies with Bamboo sharks. Maybe not a good example but I thought they were a respected Public Aquarium. http://youtube.com/watch?v=_ke8OYMDTqo
You are likely best not to go by trial and error and follow Matt and Kens advice.