Pros: Isolation, value, comfort, overall sound, nice bass
Cons: Early units may have defects (resolved now)
I'm just going to say now that I'm not nearly an audiophile. So my evaluation of earphones is pretty limited to what sounds nice to me. I used to have a pair of Shure SE210s before moving to some Monster Turbines last year. While I discovered that I loved the sound of the Turbines, I was really missing the incredible isolation of Shure. Since I travel heavily for work, isolation is something that's really important to me! Then, of course, not long after I got the Turbines the SE215s came along. It was like the best of both worlds. The warm, full sound that the dynamic drivers give and the awesome isolation of the Shures. Actually the isolation on the SE215 is even better than the SE210.
As for the sound, I can say it just sounds so smooth and warm. I recently got a pair of S4s so I actually understand a little better what is meant by sibilance and these don't have it. To my ear there's very little difference between these and my Monster Turbines which is a good thing. They just sound fun to my ears and I can listen for hours without fatigue.
They take some getting used to with the thick wires but I can put them in very quickly now. There is no microphonics to speak of because of how they have to be worn.
Overall, I just love these. After I got them, while I still like looking at all the other earphones out there, I've really lost my desire to buy anything else for daily listening. Given their low price and fun sound, I think I got a real steal!