SMPhoo: I would recommend trying out the free trial version of True-Fi from the Sonarworks website. They do a good job explaining how their software takes down peaks (whether in the treble, mid or bass region), and then also brings up those parts of the frequency response spectrum that a headphone doesn't play loudly enough. With their software, you can click a button to hear your headphones with and without their intervention. That might help you understand what is meant by the treble spike, once you hear the sound with it removed. There's also a big dip around 2 kHz in the HD700 that it corrects for, and the very low end is also understated. Correcting for all of these makes the HD700 sound a ton better, in my opinion.
Thank you, I'll take a look and see how it goes