Yes, the only thing you won't have is the music. When I installed a GDL 39R, I also replaced my 696 with a 795 and I am very happy with the new set-up.
I was originally just planning on installing the GDL 39 but when my brother pointed out that if I did the 795 later, I would have to re-do most of the wiring - the 696 & 795 use different power/data cables.