In terms of sound the HD 650 is superior. Sure, the K7XX may be better in one or two categories such as bass quality and quantity, but overall the HD 650 has the advantage in response, integration across the frequency range, and technicalities. As with anything subjective, some may find the sound K7XX superficially more preferable.
Expanding on the point about the HD 650 being better built, keep in mind that nearly every part of the HD 650 can be replaced by the user without tools (once the warranty runs out, of course). This includes the drivers, which do not require soldering. IMO this is a significant advantage and an oft overlooked engineering accomplishment of Sennheiser.