Dan, When one considers all of the expenses involved - whether it be Paxmate, Newplast, Felts, etc., as well as the Shure 840 pads and the LABOR, then they can determine if it would be better to build their own, or buy something that's proven to work "right" as soon as it comes out of the box. However, people really need to understand what their time is worth. I know for myself, I can build a pair of modified Fostex headphones for $110, or $130 - with a new dual-entry cable and great connectors, etc. However, when the TIME is considered, which, in my case, could break down to about 5 hours to do this work because of the various tuning adjustments that would be required, I don't think there is a valid case for me to build a modified pair of Fostex headphones.
Whereas, you have a system in place. Sure, you're providing a pair of headphones that are tuned towards a quite good frequency response and all of the headphones are built on a single standard with the Shure 840 pads, I'm sure your "involved" time is much less than my 5 hours of work. But, you're doing this as a business. As a business, one needs to make a profit, or the business can't survive.
In my personal opinion, buying the Mad Dogs and getting the optional leather head strap is a no-brainer. Plus, the shipping charges are "real" shipping rates, not some inflated amount to get a few more bucks of profit off of the customer.
For what one gets with the Mad Dog headphones, they get a great pair of headphones that have been built with the right, and proven, modifications. Keep in mind, that when people start a DIY project, some never complete it, or it always remains a "work in progress" project. However, when getting the Mad Dogs, you get a completed pair of headphones where you don't have to roll your sleeves up and work on after a long day at work, or by sacrificing some free time during the weekends. You get a "turn-key" pair of headphones that only requires you to open the shipping package and removed them from the inner white box (where foam protects the Fostex headphones during shipping), plug them in and start listening.
For the "newbie" who has received the Mad Dogs, I'll offer some sage advice. You'll get home at the end of your day and see that you've received a package and get all excited. You'll probably drop what you have in your hands and start ripping open the shipping box. However, my recommendation would be to ease into these headphones a bit. Unpack them, plug them in and play some music through them (while not wearing them) to get them loosened up or burned in a bit. Go about your usual tasks - winding down from work and the commute home, have some dinner, spend time with the family, etc. Then, after you've been home for about 3 hours, set aside some "me" time for yourself. At that point, your mind will be cleared and you'll be ready for some regular relaxation on your part. Select your favorite music and then put the Mad Dogs on and sit in your comfortable chair. Play through your selections of your favorite music. Carefully, listen to the Mad Dogs - hear how the bass responds with your music, listen how some of the percussion may move around the soundstage as you listen. Focus on the vocals. How do you think some of your favorite female singers sound? Is their voice spot on, and just sounding like they are singing to you directly?
Doing what I've described, will provide you with the best listening experience that you can get with these headphones. All too often, I've done the opposite. I've dropped everything and headed straight into the listening. I realize it wasn't the best thing for me to do as I was still a bit wound up from the work-day and the commute. However, when I listen after I've had some time at home to adjust a bit from the day and spend time with the family, then the music listening moments that I have later on are 100% better. Plus, your initial impression of the Mad Dogs will be 100% better, too, because you've been able to provide the headphones with your complete focus and you've been able to take in much more of the listening experience and it will be more meaningful and enjoyable to you.
Enjoy !!