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The AKG's are all about truth, they will reveal every flaw in your recordings, every hint of poor compression, they are unforgiving. This makes them perfectly suited to studio monitors (which is their main intention) but also for audiophiles seeking transparency they're hard to ignore.
The headphones will faithfully reproduce whatever is fed into them, unlike 90% of other headphones they won't boost the bass, nor will they try and make the midrange (vocals) more striking, they just play what they're told to play. This means that compairing them to other headphones they don't sound as 'musical' or warm, because of this it needs a careful pairing of electronics or they will sound slightly bass deficient.
First off they need an amp to sound good, they are notoriously difficult to drive so without an amp they sound flat and lifeless, these are not headphones for connecting directly to an iPod. Connected to a warm amp, with a slight bass boost shows that the k701's can produce exceptional, deep bass- it's just harder to acccess without an amp with some sort of tone controls (which rules out most audiophile amps). Properly amped the soundstage is wonderful, with the legendary treble that AKG are known for. They're certainly the best sounding headphones i've ever had.
Comfort wise the velour ear cups are a joy, they envelop the entire ear and even after hours of listening they don't feel hot, or uncomfortable. The headband automatically adjusts in size to fit your head too, overall it's very comfortable.
They are great headphones, but be warned there isn't 'mega bass' with these headphones, and the (not unreasonable) cost of the headphones has to be paired with an equally expensive amplified to really get the best of them.