The HiFiMAN HM-700 player with RE-400 earphones is geared towards a certain type of audio lover - and that would be those that refuse to compromise when it comes to their listening experience.
...the performance differences between the HE-400i and the HE-560 only become fully apparent when using upper-tier headphone amp/DACs (with good but not great amp/DACs the sonic differences between the headphones are still there, of course, but they are much less apparent). This, too, is good news for headphonistas on a budget.
We have made some improvements on the previous HM-901 V1.085 V3 and HM-802 V1.003 firmware. Please update your old firmware to the latest version here.
I think the HE-400i is a better headphone than the original HE-400 in every single way. I expect some listeners will prefer a more subdued treble and/or a little extra kick in the bass. But I can't think of a better deal in an audiophile headphone. This is not a low-priced alternative to an audiophile headphone -- the HE-400i is a real audiophile headphone through and through.
The HE-560 is a headphone for the headphone lover, billed as a lighter and more comfortable planar magnetic set – with great sound, of course. It is not a flawlessly polished retail product like the OPPO PM-1 I reviewed recently and does not share the rock-solid machined metal structure of the OPPO, but there is a raw, purposeful character to its design that I quite like.