I have made preliminary measurements of the D7200 I recently got as a trade for my TX00EB + pads, and they are good. Very good, actually. Truth is, a closed headphone has no right to have so good measurements
. Almost a straight line FR, downwards sloping like Tyll wants it, and smooth at that. No ridge on the CSD. Smooth spectrogram. Okay impulse. Very low distortion (especially in the bass, in comparison with others), with even and flat distribution. I might publish the measurements for reference, but basically there is nothing to see: "adequate" performance, of the Rolls Royce flavor. It's good enough you shouldn't care.
The sound in turn is like with all the very well measuring headphones: a bit on the flat and boring side when compared to the Fostex variants that have more fun.
Earlier in this thread I stated I could make the D7200 sound better just by changing pads. And it proved to be true, on steroids. Once I've put the custom carbon foam filled TH900 pads on the D7200, everything changed. The impulse response got much better, translating to cleaner and more realistic sound, others suffered a few percent. But the subjective sound quality won me over. Much bigger stage, more dynamic, more relaxed, more fun sound, with good harmonic structure, while staying smooth and neutral. No hint of edginess, glare or any treble issues. Bass is more prominent, and goes all the way down to 20-25 Hz before starting to roll off. Actually with some music the original pads may be preferable (they start to roll off a bit higher, around 25-30 Hz, but have less bass distortion as well - where the TH900 CF pads have typical bass distortion figures).
I have rolled all the pads I have, quite a few, but the Fostex worked the best - they are not with oval opening, but the measurements didn't suffer almost at all.
I know it's subjective, and there will be people preferring the TH900 (it is perhaps a tad more dynamic still with some music), but most often than not I preferred the more even sounding modded D7200, as it played closer to the sound signature of my Staxen. Not as transparent and clean as the Stax, but fantastic for a closed headphone this side of the R10.
My (modded) TH900 will likely go on sale, something I've never thought would happen... I will keep comparing them for a while, but as I need only one closed headphone (for the office), and I need to raise some money for a DIY e-stat project, the D7200 is probably the best for me, and the TH900 can go.
I will go further: IMHO the Sony Z1R doesn't hold a candle to the modded D7200... not in a single area, be it subjective or measurement (I also liked the TH900 more, but it was more colored). Of course YMMV, but it's indisputable that Denon has done it again...
Build quality is excellent by the way, the acoustic design is impeccable (a lot of work is visible there to fine-tune the front-loading of the driver), the mechanical design and CNC work is awesome (except the pads assembly mechanism that totally and utterly sucks compared to Sony and even Fostex). I don't have the headband discomfort issue: a keeper, then.
(Off-topic: please don't ask me to make modded pads - I don't have time. Look at the "TH900 mods" thread for how to do it).
UPDATE
I need to add the modded TH900 holds up very well, even with the Lawton pad + carbon foam filling. Sounds a tad more open, a tad softer, definitely more colored, but also meaning there are more colors in the mids, reminiscent to the Audio Technica sound sig. The modded D7200 sounds slightly darker, but measurements tell it's the more linear and more neutral. I think it needs a different carbon foam shape in the pads than the TH900. I will work on that.