Well, there were two versions of the Audeze ortho at CanJam, and they sounded a bit different. One had a hand tensioned diaphragm, and the other was done a bit more precisely on a jig, with a bit greater tension too. I did feel they were lightning fast, maybe just a touch harsh (though not like most dynamics), and I seem to recall a bit of rolloff in the high end. The biggest issue for me though was the bass, which was quite rolled off. I do feel that the driver itself has piles of potential, and it was really the crappy frame used which is causing the sonic issues I noted. The frame is that of a ~$20 headphone, and feels like it. The pads are velour, and what is worse, didnt even seal against the head properly, so that I could get a finger in the gap under the ear. I do bet that even with better velour pads, the bass would come up nicely. I am not sure that the second Audeze needed any damping (it was completely open).
I did do a direct shootout with the Audeze, Head Direct, my HP-1, and sachu's YH-100 and YH-2, as did both Sachu and filburt (who doesnt really post here). The rig was Filburt's modded Assemblage DAC 2.6, which is PMD100-PCM1704 and a significantly improved output stage, and a Headamp Gilmore Lite amplifier. My feelings were that the Head Direct, while it could use a bit of mechanical damping (or possibly just tension), was the best sounding of them all, and also had the most potential. The Audeze really needs a better frame IMO to get up to the same level, as well as to improve the fit, comfort, and apparent build quality issues.
I know Head Direct is planning a much cheaper version 1-2 years down the line, more in the range of $2-300. I dont have any idea what the actual differences would be, but I trust that it would sound pretty similar, and much of the cost reductions would be in improved manufacturing and yields. I dont know what Audeze is planning for the future, though I do believe they are looking at a new, and possibly custom, frame once the first batch is done. Sachu might have more information on this, as he spent more time talking with their guy.