Basically copy-pasta from my RMAF post.
HIFIMAN was on my list because of the Shangri-La. I took the opportunity to listen to it when no one else was around it.
http://hifiman.com/shangri-la/index.html
$50,000 USD for the system, and it's only being sold as a system
The Shangri-La system as a whole has a pretty interesting design. The amplifier uses some custom-made 300B tubes, the exterior of the amp is glossy black, the volume knob has LED indicators around it to let you know what volume it's at, the power button is right next to the STAX plug outputs, and it has a 3.5 mm auxiliary input jack on the back. Aesthetically speaking, I like it as a piece of art, but I prefer function over form, and having the volume at the top of the "shelf" is really awkward.
The headphones themselves seems to have a very similar design to the HE1000: wood decals on the outside, metal grille on the outside of the earcups, and a similar-adjusting headband. The driver is sub-micron thickness and it's coated with nanoparticles that probably give it the ability to be electrically charged. It also uses a dust cover that has nanometer-sized holes for sound transmission and prevents dust from getting onto the drivers. If you don't know about electrostatic headphones, any specks of dust that get on the driver causes it to distort at that portion.
As for the sound, it's not my cup of tea. It seems to want to be the SR-009, but ends up being way too bright and doesn't have enough bass for my preferences. The Shangri-La amp has 2 outputs, so I did A/B tests with the SR-207. To my surprise, the 207 has more bass quantity, but the Shangri-La had better texture, similar to the SR-009. The 207's mids sounds shouty at times, but the Shangri-La sounded bright and strident. The 207 has a delicate treble, whereas the Shangri-La's seemed a bit grainier in comparison, similar to the 009 in my experience. For instrument separation and soundstage, the Shangri-La is way better. Like the HE1000, the Shangri-La seems to have a deeper soundstage than wide, and a sense of dynamics that the 207 just can't match. Like the 009, it sounds lightning quick and it easily picks up the most delicate textures of a recording.
Perhaps in future meets, I think HIFIMAN ought to use a better DAC source than their HM901s portable media player. I seriously think this is a limiting factor of the system, but given that it's probably their best DAC...eh, I dunno. It just seems wrong to me that a $50,000 full-sized system is being fed with a signal from a portable media player.
At the end of the day, given the price, I'd take the Sonoma Model One over the Shangri-La given that you have to buy both as a system. I haven't heard the Orpheuses before, so I can't tell you how they compare to those.