I ended up settling down with the K702 as well. For my needs (ear damage) and tastes in headphone listening (vocal trance), and my budget, they are the very best for me. (If I had unlimited money, I would try the T1 - sounds like the ultimate for my tastes).
I would recommend them to anyone who is OK with lighter (but deep and accurate) bass, and loves expansive soundstage and musical separation. They are perfect for Trance. The only full-sized cans I've ever heard that don't 'muddy up' when the electronic music gets layered and intricate. (My ER-4P IEMs do a good job, too).
It's an interesting story:
As posted in another thread (which I started, I think...), I sold my K701 because I was hoping to find something that addressed the areas which it fell short to me: small bass impact, vocals a bit too recessed, and uncomfortable pads with loose clamping pressure.
I tried several other cans, and ended up sticking with the DT880/600. However, I got an offer to move, and to raise money and lighten my load, I sold my amp and cans. Then... I didn't move.
So then what? Though I loved the DT880/600, I decided the headphones I missed most, honestly, were the K701 flaws and all. I ordered a new pair I found for a good deal on B-stock. And lo and behold, the company accidentally shipped me a pair of new K702.
First off, I noticed they aren't a dark shade of steel blue, like all the phones seem to show them. They are, indeed, black. Not important, but interesting to note for someone who's never seen them close up. OK, but the important stuff: they have none of the flaws of the K701.
They have slightly better bass, and less recessed vocals. Not an overwhelming difference, but impactful enough to be a huge improvement, for me. The K701's sound quality in these areas was often distracting. The K702's is decent enough to just be a pleasure. They also have stiffer, less fuzzy and therefore (to me) more comfortable pads, and a better clamp to hold them on your head. That way I can lay down without then sliding off.
I've always considered the two models the same as far as sound signature; that's what I heard. But one thing I noticed when I exchanged my K701's pads for a pair of K601 pads, the pads actually make a huge difference in the sound. Strange enough, but true. (When I put the K601's pads on my K701, they sounded terrible in comparison). Maybe it's the pads that do the trick with the K702. Maybe, something internal in the design. But either way, the K702s are a total winner.
Now every time I listen to my K702, I thank God and think how lucky I am that these showed up by mistake. It's like having my beloved K701 back again, but improved in all the three ways I had trouble before. It's like it went off to basic training, got in shape, and came back.
Totally, totally awesome!