To varying extents, yes. All the new Lambdas do this. The L700 shows a bit less of this behavior and extends a little bit deeper than the L300/L500. However the measurements I've seen so far aren't all consistent, with some showing the roll-off and some not. Nevertheless the consensus seems to be that the new Lambdas are lossy by design. I think the L700's advantage over the L300/500 is in the pads, since mounting those pads on the L300LE and measuring bass extension vs the stock pads shows an improvement in extension and a very similar bass response to the L700. Despite this bass behavior I would say that the L700 is comfortably ahead of the old SR-404 I had, with a fuller sound, a more natural midrange, and a better and more 3-dimensional soundstage. It's highly regarded for a reason - it's really good.