Pros: Soundstage, Imaging, Isolation, clarity (for the most part) and construction
Cons: Resonating upper mids that destroys musical pleasure.
RythmDevils review covers everything so I am going to keep this short.
It has issues, I have burn't it in plenty and used equalizers, and played with many variables.
This is a strength of this headphone, it has amazing isolation and soundstage and imaging, even better then the Denon D2000 at this price, so for a closed headphone its a real treat.
Personally I think it has too much treble period, but turning it down helps, the strengths listed above hold true, but Harmon Kordon clearly did not finish this headphone, and unfortunately it seems to be a trend for them to push out headphones with issues (AKG K701 for one.) The upper mids has a resonance to it that can drown out some portions of songs so badly its almost unforgivable. A good example is Lana Del Rey.
SO I would recommend this for movies, but not music, many people who have bought this still enjoy it, but most of them have noted something wrong, and the resonating upper mids is what it is. For people with experience with equivalent gear its a big issue, but as a first step into this tier of product the odds are you won't notice, but you shouldn't waste your money getting less then what you are supposed to at this price.
So a firm NOT RECOMMENDED.
AKG I am disappointed.... And I loved my AKG K242HD so much too.