Some quick impressions, in no particular order:
I like the AD700 a hell of a lot better. The 240 MKIIis almost muddy compared to the clarity I've been used to. The bass has much more impact, but that comes at the expense of drawing attention away from the highs. Mids are solid, but they don't really draw me in. They isolate a little more and clamp to the point where it's almost uncomfortable. I love the detachable cable, I could see that saving them being replaced the way many of my other cans have been. The thing that I don't like is that they lack any sort of immediacy and sparkle. I want to use "veiled" to describe them, but I'm not sure if that's quite the right word. I guess it feels more like I'm hearing a recording of an instrument froma few feet away, rather than the instrument itself. My iPod struggles to drive them - 3/4 volume. I suspect they'll sound much better when I get my E7 amp in the mail, but right now I'm thinking of selling them and getting the AD-900.