As for the sound, it's decent, but it just doesn't distinguish itself in a market full of $100 headphones that sound decent but not great. The bass is ample and the headphones offer a reasonable amount of detail. Overall, they sound well balanced -- they don't overemphasize the bass or treble as some headphones do. However, they just don't come across as terribly dynamic or open.
At this price point, you have the Audio-Technica ATH-WS55, which offers richer sound with more bass (it doesn't have an integrated remote/microphone, however). And there's also the V-Moda Crossfade LP, which offers a more comfortable fit and better sound.
With so many headphones out there, especially in the $75 to $100 range, a headphone really has to do something to distinguish itself from the competition. The only real fault of the Nocs NS700 Phaser is that it doesn't do that. There's nothing really wrong about it, but it has a me-too design and sound that meets but doesn't exceed my expectations for a headphone at this price. It's good that Nocs includes an integrated remote/microphone for cell phone calls, but more headphones do these days. At $60 or so, I'd tell you to take a longer look, but at $99, they're a harder sell.