Yep, only +/- 1 EV. But you specify how many shots complete a bracketing step. Some people will do a 7 shot bracket set and use only the "normal", +3 and -3 shots and discard the rest. Personally I use a 5 shot bracket so I have +2, 0, and -2 and combine those.
It's true, bracketing only allows one stop increments (a long running complaint about all the Nikon pro bodies).
I could be wrong as it's been years since I used a D70, but I believe the D70 allows a bracket of 3 shots, with up to 2 stop increments, allowing for a +/-2 stop bracket.
The D700 allows up to 9 shots with 1-stop increments, which gives you +/-4 stops. This is a wider range, but you need to take more photos to get it. Setting the D700 to 5 shot/1-stop bracket gives you the same +/-2 stop range, but you need to take 5 instead of 3 shots to get it.
I have a D70S, and that allows backeting up to + or - 2 EV maximum D70S manual page 90). You can do that in multiple 1/3 EV steps or a single 2EV step, but you cannot go plus or minus 5 EV. Are you certain that the D70 offers 5 EV?
My manual resides neat and clean in the camera's box. I got two books: the Mastering the D700 one listed in this site and Dave Busch's D700 book. They are written for human beings and are very useful. The manual is almost as good as the one that comes with new Chevrolets. I'm sure all the info is in both -- somewhere!
However you gather the needed info, you're going to love your D700 as many, many of us do. The only sore point may come from the fact they apparently dropped $500 in the last 24 hours.