Thanks Alex - you hear it the same way I do. Bloated bass which ruins the signature. Your 3.5 (or even a 3) would have been a fairer mark IMO.  And if I ever come across a tube amp that sounds like this - then the amp is defective.  It sounds nothing like the tube amps I know.  Sad really - I loved the Altone200 (still do) - but T-Peos haven't really released anything as good since (to my tastes anyway). I guess I've been a bit surprised by all the high marks given to it so far.  Every review says that these are an 80-90% IEM (4-4.5 stars)?