I listen to trance, goa, deep house, tribal and other heavily rhythmic electronic music and think they do a very good job. It depends a little on how you like your bass. The HD700 has very tight and controlled bass. It extends deeper than say the D5000, but is less substantial- it has less boom-boom slam to it, but if you A/B the two headphones you can tell the HD700 extends deeper, though at first listen you think the HD700 is bass light compared to the D5000.
The imaging and sound staging and instrument seperation is excellent, better than the D5000, 650, 600, etc... though not as good as the HD800. The mids (including voice) on the HD700 are definitely forward. I don't listen to a lot of vocal trance so I can't comment on how good they are for that. I'd say if you prefer the sparkle of a forward sounding headphone (like Grado) then you'll like the HD700, especially if you appreciate the transparency and detail of Sennheisers.
However, you have to be careful of the 6K spike. It can make your listening experience fatiguing. I usually stream my trance on di.fm and I like the HD700 for this. On the other hand if I'm listening to your typical poor recording of heavy metal, then the HD700 definitely shows it's weakness.
It took me about 5 months to really notice and become fatigued by the forward sparkle of the HD700, in large part because I shifted my listening to some heavy metal music from the 80s, which was poorly recorded, compressed and bright. For that, the HD700s will punish you like a dominatrix who forgot the safe word.
Edited by PuffyElvis - 10/26/13 at 6:27pm