From my impressions at the Bay Area meet, n3rling's O2 setup was definitely more accurate. Frank's 507 rig almost sounded like it had a slight U-shaped curve in comparison, with the treble brightness at a higher frequency than most dynamic 'phones - more of an occasional shhh, shhh, than painful ssss, zzzz, ssss, etc. The bass from the 507 on the Eagles live concert CD was very evident and sounded just right for me - for reference, less than Denon / PS1000, more than HD800, and just about where the W1000X's are (though my W1000X's have been dynomatted inside). For a live concert, the 507 bass was definitely convincing and very real.
I'm still on the fence on which to get. I might opt for the cheaper option initially while getting a BH or WES built, or letting the dust settle after the C32.