I bought these as a replacement for AKG's K167 (Tiësto) headphones which sounded great but kept breaking (a material defect from the Asian manufacturer since rectified, and I'm happy with the new ones!).
The K701s are not DJ or commuting headphones, they are open backed which means they deliver a wonderful open sound but with the obvious disadvantage that the sound leaks out and exterior sound leaks in. But then you wouldn't buy these for the daily commute.
What they are good at is delivering very clear, very honest sound. Matched with even a half-decent amp/headphone amp they really come alive and for mixing and mastering are almost perfect - arguably a little extra low end would make them perfect!