My intention with the central felt pad was to dampen high frequency shrillness. I'm not sure it did much good. The original polyurethane (soft) ring around the driver had turned into a flat, sticky goo, and I cut the felt ring to replace it. I think this ring is a vital part of the construction, as a sort of filter between front and back radiation. When I put it in place, bass also increased substantially - it is thrilling, but really too much!
As the aged headband pad was in a miserable condition (severely flaking) and the long cord only had a 1/4 inch plug, I decided to find substitutes. Sony spare parts are as scarce as hen's teeth in Europe, and if available, prohibitively expensive. Instead I bought a t.bone HD-880 headphone from Thomann (€25) and used that headband and cable for my V7. Pads are the Beyer DT250 velvet replacements. I'm very happy with the results.
The V7 is a strange animal - too much bass, laidback lower midrange, shrill highs. But boy it's fun to listen to every now and then!
It can do a few things that escape other headphones, dissecting music like a razor. Which can sometimes be painful, too.