The new version has more of a matted design, it's not longer shiny. The remote and mic has changed (if you look at the M model) and the headphone jack comes in at a 90-degree. The Y-splitter is now all rubber as well (the old one had a bit of metal in it if memory serves). The box will also say it's "Improved" as well. I hope this is enough detail to allow you to distinguish them :p I have had a chance to listen to them. I don't have my old 700s any longer, so comparisons made in my upcoming review are from memory (may not be valid).