The AD700 shares a similar basic sound signature (not much bass, lots of midrange and treble), but lack the coloration Grados have.
AD700
SR60i
You'll see their sub-bass is similar, but the AD700 has no mid-bass hump which is what kills its perceived bass impact. The Grados do have a mid-bass hump, which makes kick drums hit harder. The AD700 has as small peak in the mid-range at 1kHz, and the Grados have a big, sudden peak at 2kHz. The higher peak will make guitars sound brighter and more aggressive. The typical treble spike is at 9kHz on the Grado and treble in general is higher, while the peak is at 10kHz on the AD700. Cymbals will probably sparkle more with the Grado because of the wider treble peak.
They're both colored, but the AD700's coloration is better for music that uses the whole mid-range, like vocals.