Pros: Comfort, looks great sound for the money
Cons: Not for iPods, bass can get bloated with poor amp matching
Got these 2nd hand (but NOT yet burned in) for the wife to have at work because of comfort, looks and presumed audio quality. It filled my expectations except they were harder to drive than I thought. An iPod can bring it to moderate levels. My laptop slightly less, but my wifes laptop (hp business type) brought them to louder levels than I found safe, for me and the headphones.
They are driven to medium volume by an iPod or the headphone out of my laptop. If that is your primary use, get something else. I tried it on several amps. Woo WA2 OTL tube, Creek 5350SE integrated known for having a nice headphone out), Cary SLI-80 tube integrated, Pro-Ject Headbox mk2 and the cheap tiny Muse mini usb dac. I compared it to the HD650. Also I tried it with iPod and two laptops.
First - I always preferred the HD650. But the 242 were no slouch. The have more bass than the 650, and the bass can get bloated sometimes when paired with the wrong amp. They are quite upfront. Nice detail, nice soundstage. Warmer than the HD650, which has more air and separation.
With regards to amps - the Cary SLI-80 made them sing. But then Headbox did very well with them. The Creek wasn't a good mach beacuse of bloated bass, the WA2 had the same problem sometimes. This is probably because of impedance issues (I'm no expert). The guy I bought it from, however, thought it sounded swell from the Creek (which he also happens to own) To my surprise, the WA2 volume had to be cranked up to levels I never have used before.
The biggest surprise was the little USB-powered $25 Muse Usb Mini Dac which attatched only to the computer with the usb cable drove them satisfactory and volume as high as I prefer it, and slightly higher also. If you are in not very noisy surroundings this will do just fine.
Don't get this for an iPod, but they sound great when amped. The Project Headbox is a fine match, and if you want a usb powered dac/amp solution there are many alternatives (Fiio??) and even a $25 piece makes them sound good :) I must also point out that headphones I have reviewed were not burned in at tehpoint of this review - they should get better after a while. Most headphones tend to "open up" after 50 hours or so :) Keep in mind that I didn't compare the 242's to similarly priced headphones. They seem to be worth the money and offers amazing comfort.