Yes, frequency, incidence and prevalence are all interchangeable with either "high" or "low" before any of them. For some reason (I know not why), low prevalence has suddenly become the "word of the day", but there is no particular reason for this (as far as I know).
Those low prevalence antigens within the 700 series, and, come to that, the high prevalence antigens within the 901 series, are, as you say, placed there as they do not belong to any known blood group system. However, do not run away with the idea that all low prevalence antigens are in the 700 series, and all high prevalence antigens are in the 901 series.
The antigen KREP, of the Diego Blood Group System has only ever been reported in one Polish individual and one Slovakian individual, and yet it is not in the 700 Series of antigens.
Conversely, and as far as I know, DOLG of the Dombrock Blood Group System has only been found to be negative in one Sri Lankan woman, and yet is not in the 901 Series of antigens.
This is because, in each case, the chromosome and the particular loci have been identified, and they are mapped to known areas of the genes which encode each of these antigens.