Pros: Amazing sound
Cons: A bit odd looking, rubber tip came off of pole
I bought these used off ebay, and already burnt in. They sound amazing. Everything is balanced, the bass is tight and punchy, the mids are detailed, and the highs are clear. They sound like you would expect from a company like Grado. Anyone who says the bass is lacking is probably a bass head or major dub-step fan.
On the downside they can look a little goofy, the little rubber tip also popped off one of the poles and I will have to replace it. These are pretty comfortable, however, the stock headband has no padding and looks a little cheap. The stock foam pads can be a little scratchy as well. With a nice leather headband and a sock mod, I think that these would look awesome in a retro sort of way.
Another note is that the cord is something like 7 foot long. That's great at home but if you use it portable the cord you will have to wrap it or something. Also as with all open headphones there is sound leakage so be considerate of your neighbors.