The problems can go beyond the sensor to your camera settings and other factors.
Picture controls or post processing routines often call for contrast enhancements - ad these enhancements in high contrast situation can blow highlights or give the appearance of blown highlights on your LCD. Saturation can do the same thing to an extent with color
In high contrast you might consider Active D Lighting if you use Nikon software for post processing. The Low setting of ADL does no adjust exposure and simply applies a complex curve to preserve highlights and recover shadows while maintaining midtones. I had a very difficult time replicating the curve in post processing. If ADL is on Low, you can remove or change the adjustment in post using Nikon software. If ADL is Off, that option is not available. ADL Normal and High apply a curve, but also reduce exposure by 1/3 stop and 2/3 stop respectively.
I usually use Matrix metering and dial in exposure Comp as needed. Matrix tends to try to avoid blowing background details. Matrix more heavily weighs the focus sensor in use, so you do need to be aware of what AF sensors are active. If your AF sensor is on a dark area, you'll get a slightly different exposure vs. a light area.
A circular polarizer can affect exposure. Center weighted is suggested with a CP, but it is not that important. Reducing bright reflections will by its nature create a darker exposure that the camera compensates for with a slower shutter speed (in Aperture priority) leading to slightly over exposing other areas.
The dynamic range of the D700 is much better than the D200. If your D200 is performing better, it's not the camera sensor but rather settings or post processing.