First, allow me to be abundantly clear. This is what I think. I will enumerate some points regarding my observations. However I admit that I am somewhat negatively biased against these units (well, two).
Also I don't want a flame thread. So let us begin.
Similarities between the Colorfly C4 and HiFiMan HM-801:
1. Jam a lot of quality parts inside and claims many amazing things. However upon closer inspection, you see that the internal soldering is really not well done.
2. Quality control is not well done. Or rather, good looking "skin" that can't stand up to a serious inspection. The HiFiMan, which I have personally demo'd and auditioned back in Shanghai, has quite bad electroplating (there are some pics over at a Chinese forum). A particular unit of the C4 developed a cracked LCD (Chinese forum) and a review here on Head-Fi reviewed the (probably) poor handling of the unit (dinged wood).
3. Bad firmware. OK, maybe not "bad", but certainly not up to par. The HiFiMan's UI is quite puzzling (I admit that I was using an iPod back in Shanghai) and the whole interface does not look well conceived. The HiFiMan already has a number of quirks (there's a thread here) and the C4 is yet to be proven, although that recent review here didn't give it high marks.
Also head-Direct has good customer service, that is very good. Let's see if Colorfly can establish good things once it enters North American markets. Although it does have a German site...
So those are my observations. I can't say about price/performance, but my HiFiMan experience was... not what I have expected, shall I say. Although the sound is fine (my iPod + Amp combo is equal in price with the HM-801 and sounds about the "same"), the build and the UI (firmware) is not something I like. Though I may be putting too much "I" in this thread.
Make inputs. Please, no flames.














