The main description points so far:
1) The 400i seems to have fixed the weird midrange distortion that some are able to pickup.
I don't understand what "weird midrange distortion" is, unless they are talking about vocals/clipping ala' Florence and the Machine albums. But they could be talking about the resonance issue, which I think it essentially fact for those that have tried modding (and reaped the benefits)
2) They do sound better, more coherent overall signature and better clarity.
This statement seems to be suggesting that the 400is will be a better balanced than the current phones - a more relaxed midrange (less/no resonance) and reduced treble (since that is the one major area we all seem to agree can sound out of balanace). But this person says nothing about bass which can easily throw things out of whack.
3) Still less smooth and refined than the other Hifiman phones further up the range.
Less refined? Not necessarily. But "less smooth" suggests they will still be aggressive, which I think is a good thing! The old 400 vs 500 debate did, at one point, have some people going back to the 400s because 'refinement' is not always preference.
Person#2 1)I believe the HE400i's were surprisingly accurate, obviously more so than the HE-400's.
Accuracy is a blanket statement to me until I see some data (and even then we don't really know what is ideal for headphones). If this is meant to indicate a sense of lower distortion and better frequency response, then yay.
2) The highs were crisp and airy, and I could tell the lows were improved over the 400's.
"Crisp and airy" is how I might describe the 400s right now, so this doesn't say much. Hard to imagine better bass response, but if it is hitting harder, then great. A little extra bass weight has been what I am preferring in the long-run.
3) What surprised me most was the weight decrease, considering the sound improvement.
Light-weight plus sublime sonics = awesome. I think that this creates a subjectively more relaxed and 'privileged' listening condition.
4) I say hats off to Hifiman, I will now begin the long journey of saving for some of their cans.
So, at least one person considers them enough of an improvement to just spend $500.
In summary, the first two impressions seem to suggest that everything is better, and nothing is worse.
But I would like to see if anyone has picked up on what the tradeoffs might have been.
In terms of other wishlist items, I have one. Given that I just got slightly burned by my expired warranty, I would like to see Hifiman include a 3-year warranty minimum. $500 bucks is a lot of money (ALMOST as much as a 5.1 system I have my eye on!). High end products should be matched with high-end commitments.