I hated the 800 in comparison, I thought it seemed dull to listen to and I didn't understand the hype. I think if I'd paid the full $1k for the HD700 I'd feel a little bitter about it, but for $729 it was a BIG step up from the K702 Annies. They are similar as the HD650 is to the Annies, but where the Annies do everything right that the HD650 does wrong the HD700 does the Annies one better and fills out the top end with sparkle and the low end with authority, plus it adds a real flavor of dimension to the awesome sound stage (this is probably due to the angled drivers). They are like having really nice speakers on your head.
I am not knocking the Annies, if I could afford two sets of headphones I would keep them. They are a very strong headphone for the price and they do very well with almost every genre of music. Don't take anything I say as a rejection of these cans, in fact I think AKG should really think about these improvements and release these as a K703 ... keep the K 702/701 as is, just release these as a new number and charge whatever. They are a great competitor in the $400-$500 range and definitely better than the HD650 if you ask me.