I just posted this on an iPhone 6 thread, but I thought you'd appreciate it here.
I just finished A/B testing (to the best of my ability) the Sine through Cipher vs through Dragonfly Red. It was sort of hard to do because switching out the cables quickly is anything but easy -- they don't exactly go in/out of the ear cups in a flash. So I went through songs I'm very familiar with multiple times with Red, then same order through with Cipher. The side by side pics are below -- one of the big surprises to note is how much lower I could have the volume on Cipher to reach the same output level..it's pretty significant. Overall, I'd say the Cipher sounds a little bit smoother overall with a little more bass impact than the Red. Don't get me wrong -- the Red sounds really good with my iPod...I just think it sounds great with my laptop (I believe that's where it really shines). So the fact that Cipher actually sounds better to my ears and is more portable/less bulky than Red is pretty effin' awesome.
And a funny thing is -- the player I'm using (Korg iAudioGate) actually plays through the correct sample size on Red, but down-samples on Cipher. The Ray LaMontagne song is 96.0 kHz and plays 96 via Red, but 48 via Cipher. And the Loretta Lynn song is 192.0 kHz, plays 96 via Red and 48 via Cipher. (and I still think Cipher sounds better)
Note -- I did NOT see how Red responds to EQing, which may make a difference. I did them both flat, and then I went through Cipher a 2nd time w/ the Audeze app EQ applied (screenshot below). It looks drastic, but it's actually a very subtle difference. Anyway, let me know if you have any questions.