I purchased these upon recommendation of a friend who has never led me wrong. And he hasn't with the ES700s.
These imports make me wonder what else is going on across the Pacific! The sound is very accurate, yet fun enough to plug into an iPod. Bass is very controlled and deep, surprising amount of sub bass for this price level. The mids are present but not forward and the trebles were surprisingly available. Listening to high quality rock and jazz recordings made a great impression.
The build quality is excellent - as per usual for AT. The headband is comfortable and light, however, the pads are an inconvenient size. They obviously aren't big enough to be over-ear but they are a little too big IMO for on-ear. Can be a little fatiguing after a while depending on ear size. I've read several threads about changing out the pads that seem to quell these issues.
Overall, these were a great introduction to what is going on at Audio Technica for me. If you can find a pair stateside, I recommend them.