I have read the tutorial/wiki on equalizing with pink noise, and I have to say it was very helpful and a great introduction to the concept of head-related transfer function. I've tried, with moderate success, to use this approach in my rig, but I find that because I'm using a subjective measure (my perception of peaks and valleys in response when listening to sine files or singen), I fiddle more than I want to and I doubt I've got it right. Since I can't afford to get my HRTF measured, I decided to try a different approach.
I listen to my 280 pros using fb2k with George Yohng's VST Wrapper and Electri-Q (posihfopit edition), and I'm building a CMOY that will soon be in my chain (pots arrived today!). I grabbed the HeadRoom frequency response graph and painstakingly made an inverse of the FR in Electri-Q, with the goal of a flat response. I made the inversion centered around 0 dB and then dropped it till the curve was only cutting. Then I upped the fb2k preamp by the dB drop in Electri-Q to make comparisons at the same level. With only about 10 minutes of switching back and forth between no EQ and the inversion EQ, I got the impression that this was an accurate but possibly fatiguing route to a flatter response.
I am guessing that the three valleys in the 280's response between 1 and 6 kHz are average ear HRTF corrections intentionally built into the phones by Sennheiser. If I find my new EQ causes copious listening fatigue, I may allow those valleys to occur and see if it helps.
Has anyone else tried this with their phones? If so, what did you think of the sound? I'd love to hear from Head-Fiers with more EQ experience about what works and doesn't work.
P.S. - I just listened to a sine sweep and I'm very impressed – never by listening and tweaking did I get a sine this clean and even. It's not perfect, but the midrange especially has benefited.

Note the direction of dB change in either graph is opposite that of the other. I screencapped the EQ's curve and turned it upside down so it would be easier to compare them. I didn't bother with anything above 10 khz or under about 30 Hz.