Not really. Actually, pretty much the opposite is true, in my opinion. Classical music requires an IEM to do 3 things very well:
1) Soundstage - orchestra recordings sound terrible in a compressed space.
2) Bass - those timpani are there for a reason. Listening to Mahler, as an example, without good bass simply sucks away all the emotion.
3) Timbre - elusive and difficult to quantify, but good timbre is almost exclusively the domain of dynamic driver IEMs.
Etymotic's IEMs, with their sharply rolled off and recessed bass, tiny soundstage, and poor timbre fail at these three elements. In my experience, the above three characteristics are almost always best exemplified by dynamic driver IEMs. YYMV.
Edit: Not that etymotic IEMs aren't good for very specific types of music - violin solos come to mind - but by and large, they would be my last choice for classical music.
I believe that decent soundstage can be found only in full size cans..preferably open ones...so you are right about the soundstage thing but here we are talking about iem's. the second most important thing for classical imo is "flat" frequency response..as much flatter and linear as possible. from my experience with the etymotic HF5..they are sure pretty flat sounding. not 100% neutral as there isn't such a thing..but very close to it.
I believe that balanced armatures are more suitable for outputing an accurate tone than dynamic drivers.
Edited by plonter - 9/26/10 at 12:06am