[Mink]

  I own both (in stock form) and I find the Z7s superior by quite a margin.
Their sound is more layered, they have better depth and smoother treble.
D5000's sub-bass is significantly better though.

Time to correct myself.
I have been listening to Monteverd's Maria Vespers (Garrido, K617) on both D5000s and MDR-Z7s and I think neither of them are superior over the other.
D5000s strength is the control they have over the material, crescendi (choir and sopranos) are handled with grace, the dynamics are in check and vocals never get shouty or 'ringy.' I think this is partly because of their relatively laid-back midrange (compared to the Z7s in this case) but also because they are less dynamic overall.
The MDR-Z7s let crescendi go without any restraint and it feels like the drivers are just too big and loud for the size of my ears, so at times the sound or the resonance (?) can get 'ringy'.
But this is mostly when I listen to them 'cold' for the 1st time a day or straight after I have listened to the D5000s. My ears adjust after a while and then these peaks (1khz) are no longer an issue.
Another thing I noticed is that I think the D5000s are tonally more neutral. Coming from the D5000s my ears take a longer time to adjust to the MDR-Z7 than vice versa.
Musically however I feel the MDR-Z7s are more engaging, though arguably technically inferior to the D5000s.

 

[Sonic Defender]

I'm close to getting a Z7, but truthfully they sound like despite all their purported technical appointments they fall short in some significant areas. I am also considering a ZMF Vibro which sounds to be very good from what I have read. Between the two o them I am starting to lean toward the ZMF.

 

[Mickice]

You'll never be able to own and hear every headphone, maybe you'll make the right choice or maybe you'll never experience that gem.

 

[Sonic Defender]

  You'll never be able to own and hear every headphone, maybe you'll make the right choice or maybe you'll never experience that gem.

I'm not quite sure what you are trying to say as it relates to my post, but thanks for taking the time to respond. Do you own the Z7 currently? If so what do you think of it? Seems to be as much a disappointment as a hit. I have no interest in modding so my questions are related to stock sound signature only. Thanks to any and all that have thoughts to share.

 

[Mink]

Forget about technicalities or (tiny) flaws in their frequency response, don't listen to them to rank them on a list, just judge them musically.
Yes I know, you cannot completely avoid comparing them, everyone has their own reference, but once you let go and just play music you will be immersed in a great soundscape and their strengths will downplay every little flaw.

 

[Sonic Defender]

  Forget about technicalities or (tiny) flaws in their frequency response, don't listen to them to rank them on a list, just judge them musically.
Yes I know, you cannot completely avoid comparing them, everyone has their own reference, but once you let go and just play music you will be immersed in a great soundscape and their strengths will downplay every little flaw.

Not sure the shortcomings are tiny, those who find fault with them seem to point out some serious issues, soft treble, recessed mids, somewhat boomy bass. If these characteristics are accurate I suspect I will start to see a few Z7s become available used in the next few months. If it isn't even able to best the D5000 in any technical sense then that is certainly a disappointment.

 

[Sonic Defender]

As well, I don't rank things on a list, but certain technical abilities are important to consider. What I really want is a more refined version of the D7000 and even the TH900 and 600 seem to not answer that bell. I was really hoping the Z7 did.

 

[Mink]

 
Not sure the shortcomings are tiny, those who find fault with them seem to point out some serious issues, soft treble, recessed mids, somewhat boomy bass. If these characteristics are accurate I suspect I will start to see a few Z7s become available used in the next few months. If it isn't even able to best the D5000 in any technical sense then that is certainly a disappointment.

All these flaws are relative, in comparsion with different headphones.
In comparsion with my A900Xs which have more forward mids (especially low mids) I honestly never feel MDR-Z7s mids are recessed, they work in their overall sonic picture. And even in a more objective way I don't think Z7s mids are recessed at all. 
The D5000s mids are the most recessed of the headphones I own, but when I listen to them for a while I never think: "Gosh I wish those mids weren't that recessed"

 

[Mink]

To be honest, I think their retail price is overpriced. I paid 375 Euro (ca. 430 US Dollar) for mine and I feel they are 450 US Dollar worth.

 

[Sonic Defender]

  All these flaws are relative, in comparsion with different headphones.
In comparsion with my A900Xs which have more forward mids (especially low mids) I honestly never feel MDR-Z7s mids are recessed, they work in their overall sonic picture. And even in a more objective way I don't think Z7s mids are recessed at all. 
The D5000s mids are the most recessed of the headphones I own, but when I listen to them for a while I never think: "Gosh I wish those mids weren't that recessed"

Everything is relative, but that still doesn't mean unimportant. Again, I haven't heard the Z7, but it really does sound like a missed opportunity and from what I'm reading, Sony wasn't really sure who they were tuning the signature for and tried to make it a crowd pleaser and it sounds like mixed results. If I'm going to drop $700 on a headphone, I do try to consider the tonal balance and I'm just reading such mixed reviews of the Z7 that it is difficult to know what to expect. I may just have to pass which is a shame as I wanted to try the Z7. Too bad, I had such high hopes.

 

[Mink]

You are correct.
I never would have bought them blind if they weren't sold for way cheaper than the $700 list price.
And I bought them out of curiosity, I had no need for them, simply because my D5000s and A900Xs are excellent in their own way.
And no, the Z7s obviously aren't true flagship headphones, if that means anything...but I'm glad I took the bet, because now they are my favorite pair.
Well maybe, just maybe you'll find a cheap used pair... 

 

[Sonic Defender]

Where did you buy yours from Mink? I'm still tempted, but not at $700.

 

[Mink]

I bought them at this site.
http://www.bestekeus.nl/product_info-n-SONY_HOOFDTELEFOON_MDRZ7_ZWART-pId-238159-ref-tweak.html
But the price has gone up again. It fluctuates every week, from 367 Euro (excl. shipping costs) to 587 Euro (incl. shipping costs)

 

[Sonic Defender]

Last question Mink if you're still around. How does the balanced cable they supply terminate? I'm hoping 4 pin XLR? If so is it female or male terminated? Thanks

 

[Bill-P]

Nope. Balanced cable is 3.5mm. 2 of them.
 
An adapter to XLR, either 4-pin or 3-pin can be made fairly easily if one is handy with a soldering iron, though.