Got my Asgard 2 a couple of days ago, and I've been listening to my K702.65 on that amp. Big differences when compared to listening on my Yamaha integrated, as expected.
On the Asgard 2, the bass quantity is reigned in pretty significantly, everything sounds tighter and more detailed, the soundstage opens up, the imaging sharpens, and there's the sense of more air in the presentation. Basically, it sounds much more like my memory of the K701.
I think the K702.65 still improves on balance when compared to the K701. The elevated bass quantity is pretty close to what I'd call neutral on the Asgard 2, and the emphasis that the K701 put on the upper mids is diminished. As others have been starting to point out, I wouldn't be surprised if the pads are solely responsible for the sonic changes.
I'm not sure I'll end up keeping the K702.65. I might go ahead and get the K701 instead, and install a pair of the memory foam pads -- I have always preferred a hard-wired cable, and the fact that it has four conductors vs. the K702.65's three makes the K701 much easier to convert to balanced. But whatever way you slice it, I still think the K702.65 is a great headphone. I would even call it a good value, if it weren't for the fact that you could buy a regular K70x or Q701 with a pair of memory foam pads for less.