How I see it is that dan is simultaneously making these headphones to fulfill orders and tinkering with potential improvements at the same time.
Now, once an improvement is discovered it's probably hard not to implement it straight away for the orders that are incoming, for the fostex he is modifying. What's the other option - carry on building what he knows know are not the best modified fostex he knows of untill a period of time whereupon he will roll out a super update, instead of these incremental ones?
I don't see any marketing ploy or mean money making intent behind this - just a guy with raw passion and enthusiasm for making these modified headphones though what I do see is an inherent price variation depending on if you live in america or not. For americans it's a top performing headphone value wise. Outside america I would disagree - decent value only.
Expense and Value
There is a confusion about the expense of this, so let me break it down and break it out, using figures from my paypal history:
Mad dog dog pad headphone - October 2013: £193 ($300)
Shipping - USA to UK inc taxes : £31 ($48)
Heaphone Customs/VAT - UK Border: £56
Alpha Pads - Inc shipping: £45 ($69)
Pads Customs/VAT - UK Border: £15
Any such tune up to the sound would say cost a further £50, putting the overall price (for the 3.2 mad dog) i have paid to double the price someone in america would pay if they were to order it now.
I'm just laying out the facts - I expected this when I first bought them and am fine with it.
In my opinion it is one of the best closed headphones on the market, though if you narrow it down to headphones that are isolating/non leaking then it's basically in the top three I would say (I haven't heard all of them, though I've been through quite a few). I would say though that the ultrasone signature dj is definitely better than the mad dog, where mine are of course the verison 3.0 - and I don't expect the gap between the mad dogs and ultrasone to be made up by the 3.2.
I also must say that if I were to listen to it underamped, like through an e9 (which I love for easy to drive phones) I wouldn't put it in my top 5 best closed headphones. An 02 amp doesn't do much better neither does the audinst mx2 (though a bit better than the 02). A Heavyweight amp is needed In my opinion which doesn't need to come in at a heavyweight price either - beresford bushman sounds unbelievably good with this headphone and that's like £150.