The K702's live once again! Thanks mmayer for your tip. I was able to bring the original driver back to life with a little bit of extra soldering, saving me $50 in the process.
I went with a dual entry configuration, and used DHC nucleotide cable in a four wire litz braid. I added a little bling and bought a Viablue splitter and some carbon techflex (help with durability for the part of the cable that will be resting on the ground). I purchased a pair of rubber strain relief grommets from Moon Audio, and a extra right driver housing from AKG for a matching look. The cable is terminated with a Neutrik 4-pin XLR.

So far it sounds great. Perhaps the sound is a tad bit warmer, but all the resolution is still there. I like what I am hearing so far. I will try and post some additional impressions after I have a chance to listen to the setup more.
Overall, it wasn't a terribly hard DIY project. A little bit of skill with the soldering iron, and some patience and care are all that is required. I figure I saved about 50% by doing the cable myself. Feel free to shoot me an email if you have any questions.