Just thought I'd post here in case anyone is in the same position I was a couple of weeks ago. I finally narrowed down my search to either a Sony MDR-Z7 or Fostex TH-X00 mahogany (a "fun" sound signature around the $300 price range). However, there was not a ton of information comparing the two of them, especially because the MDR-Z7 was selling at $700 when released.
I just want to start off by saying both of these headphones are fantastic, and I would be happy with either one. However, after having owned both, I can say that I prefer the TH-X00 MH
I prefer a slight U shaped sound signature where the mids are not recessed. This brief comparison will be between a stock Fostex TH-X00 mahogany and stock Sony MDR-Z7.
Comfort and build quality go to the MDR-Z7 hands down. The materials used are premium, the sliding mechanism is top notch, and the detachable cable is very practical. Furthermore, the headband is more plush while the earpads are softer, bigger, and deeper (I actually got the TH-X00 for a great price because it didn't fit the ears of the first owner). I think that the build quality is the reason why Sony was able to sell so many for their hefty initial asking price.
If you're a sucker for wood cups like me, then you're still going to think the TH-X00 is the more attractive headphone, despite the build quality being lesser (I'm looking at you single screw swivel joints).
Now the sound is where it gets interesting. If I had to sum it up into a couple of adjectives, the Sony MDR-Z7 would be smooth and romantic, while the TH-X00 is dynamic and engaging.
Bass:
The bass is presented very differently between these two headphones. The MDR-Z7 has the illusion of reaching deeper because the bass is boomy. If you've ever sat in the back of a car sporting dual subwoofers, you'll know what I mean. There are genres of music I prefer this type of bass (trap and hiphop to name a few), where the lingering bass really envelopes you into the music. Although I'm sure the TH-X00 can reach just as deep, it focuses more a mid bass punch versus the boomy (and often unwanted echoing) bass of the MDR-Z7. And even though the TH-X00's bass punches hard (coming from an HE-400s, I was blown away), it is still fast enough to enjoy with softer genres like jazz and acoustic music. So in short, the TH-X00 is punchier and the better all rounder, but if you're a basshead that loves that bass with long decay, the MDR-Z7 will probably take the cake here.
Mids:
Because of the MDR-Z7s booming bass, it does spill into the mids and swallow up some of the details in the mid. Moreover, the mids are tuned in such a way that you feel like you're sitting in the first or second row of a performance instead of being on stage with the musicians. I won't lie, the TH-X00's boosted bass also makes it way over into the mids as well, but because it is a faster bass, it is not as distracting. Additionally, the mids are tuned to be more in your face, and creates the effect of you being up on stage with the musicians. Personally, this is where the TH-X00 starts to pull ahead for me; it just sounds engaging.
Treble:
If the TH-X00 started pulling ahead for me in the mids, the treble is really where it starts create some distance. In short, the MDR-Z7's treble is flat. I'm talking Florida flat. I've heard lots of headphones since I've wandered here onto head-fi, and of those I've heard, the MDR-Z7 is the epitome of an "L shaped" sound signature. Go ahead and crank these bad boys up, the bass will rupture your ear drums before the treble will give you a headache, that's a Tim Le Guarantee. Now I would've kept the MDR-Z7 because they were so comfortable, but I just love hearing intricate cymbal patterns, and the MDR-Z7s just couldn't convey those patterns. Compared to the MDR-Z7, the TH-X00's treble is wonderful. The treble is nice and crisp, and you can hear all the detail you'll ever want. Also, because of the bump in treble, the TH-X00 conveys female vocals with better accuracy than the MDR-Z7. I love the TH-X00's treble, but I should warn you that my favorite headphones are Grados, and that I barely found the DT990 siblant. If you're sensitive to treble and like playing your music loud, the MDR-Z7 are for you. If you like hearing sixteenth note paradiddles on your hi-hats, there's no contest.
Sound stage/Resolution?:
I put a question mark here because I've only recently started to analyze music and my gear, so I don't feel that I'm qualified to comment here. Regardless, I will give a rather crude impression between the two. Because the TH-X00 has the greater treble, it creates a sense of air around instruments, which makes it easier to pick them apart in the back ground (both in terms of width and depth). The MDR-Z7's is no slouch either, but due to lacking treble extension and detail, I find that I can really only pick apart instruments on the X axis. Now don't get too hopeful, the sound stage and resolution still won't match the likes of the HD800 or AKG K712.
Conclusion:
This is the first comparison I've written on head-fi, so I realize that a lot of my thoughts are jumbled up. I give you a tl;dr:
Sony MDR-Z7- Laid back sound (very similar to LCD-2), boomy bass with subwoofer like decay, recessed mids, smooth (but recessed) treble. These are the perfect headphones for those looking for something "fun" but not siblant. If you'd rather not have your snare drums sounding like whip cracks, and want to listen to hours of fatigue free music, the MDR-Z7 is for you. The comfort and smooth treble will make you a happy camper.
Fostex TH-X00: Engaging sound signature, punchy bass, more forward mids, slight treble boost. Beware of shallow cups, a fragile spinning mechanism, and lack of removable cable. However, these are the headphones you put on when you want those violins to sing and cymbals to shimmer. If I had to compare these to another headphone, they're like a closed back grado with bass boost on; that is an expression of endearment.
Wow, I guess time flies when you're writing comparisons
This is the longest post I've written here on head-fi, and being my first comparison, I'm sure a lot of my thoughts may have got lost in translation. If you have any other questions, ask away! I hope this helps those of you who are looking for a closed back headphone and are on the fence between these two wonderful headphones.