I now have two HD650s, one with 2007 drivers and black silk, and one brand new with metal screen.
The cables seem identical.
While the differences are clearly audible, it isn't a cut-and-dried decision.
The older one is fuller in the bass and lower midrange
There is no upper midrange glare. It is tolerant of bright recordings and electronics.
Treble does not force itself on you and is relaxed.
Mid-treble is present when it needs to be, and arises out of a black background.
The experience is close, enveloping, luxurious, warm.
The pads are more confortably soft and sit closer to my ears.
The newer one has a relatively lean mid/upper bass and no bloat.
Midrange is cooler, less rich and more hi-fi.
Voices don't have as much illusion of reality or coherence (like live singing).
Upper midrange reproduces a bit more of the "condenser cackle" that affects/afflicts most vocals.
Reverberation is more apparent.
Added detail in the upper midrange to lower treble makes them a bit more analytical.
They are probably the more accurate, but sometimes less emotionally engaging.
Pads are harder and space the drivers farther from your ears which contributes to the thinner bass. I bet they soften quickly.
My Cardas cable makes less of a difference on the new phones.
I considered keeping them both for different recordings, but I promised myself to sell one....
So, I'll sell the older pair.
Longer listening has me noticing how many factors influence an opinion, aside from the obvious different expectations that listeners bring. Loudness level makes a big difference in whether you think a phone is bright or warm or neutral, musical vs analytical. I also tried tubes (Woo WA6) vs solid state (Perreaux or straight from the SCD-XA5400ES). These tubes mate well with the new phones, while the SS tilts a bit toward the older phones. The WA6 is not dark or overly warm, but just a hint forgiving and less etched than the SS, perhaps with less HF hash or transient distortion in the case of the high-feedback opamps in the 5400 output.