These just came in yesterday! I'm certainly not as well versed as others here, but I think my input could be helpful. I own the Sennheiser HD 595, Audio Technica M-50, NAD VISO HP50'S. I have owned, or have trailed all of B&W line. I had the P5's since 2010. I have also had experiences with various other headphones. With all of that said, here are my initial impressions.
Let's not go into detail about the design Let's all just agree that It's the best looking headphone period.
As many said the soundstage is smaller compared to the larger P7's and the VISO HP50. My short comings of the P7 was that I never found them all that comfortable. It was hard for me to get a good seal, constantly fiddling made them uncomfortable for me, and the Mids were a bit recessed. While the soundstage is smaller than some over the ear headphones, it's not absent! The presentation of the sound, and the separation of the instruments make up for it! One part of the sound signature makes up for it big time are the mids.
The mids are beautifully done. Definitely more upfront, and very detailed. It's still musical but not analytical. This alone makes me like these more than the p7. The treble isn't as glistening as the p7. It's very good, not harsh or tinny at all. Likely done to make compressed and streaming files sound better overall. The bass is quite powerful. Maybe too much so, but it's been said it will mellow out. It goes very deep. In just the 5 or so hours I have on the headphone so far, it's really a pleasure to listen to! If you close your eyes you could imagine two B&W speakers in front of you. Great imaging.
A few negatives to note. While the pads are more comfortable than the original p5, the clamping is still a dozy for me. It's getting better with time though! I also have to play music louder. I was playing Black Sabbath over my Macbook Pro, and I had to have the volume 100%. Looks like I need to find that USB cord for my Fiio amplifier! I wouldn't say they are super power hungry, just more so than you would expect.
Overall: This is a solid headphone to me! It's more balanced than the p7 I would say, and blow away the original. The Viso HP50 is more neutral and flat overall, but this carries that sound signature, but does it with the Bowers & Wilkins finesse via the aesthetics and sound signature. I also feel that they are using the exact same driver as the P7, just tuning it a bit different to fit the form factor.