Not sure what everyone here is fussing about. I really like my Grados... The box? really? Those are stacked in my closet for when I move (on top of my speaker boxes). I've never had a lick of issues with any of them either. Sure my HF2s have a couple of blemishes on the metal finish since new, which is annoying but not a show stopper. Overall build quality I've had no issues with. Nothing has broken or failed in the 7+ years I've owned the MS-1s, 6+ years I've owned the HF-1s, and 2+ years I've owned the HF2s. The HF-1s have been my work headphones since I got em... 6-8 hours a day five days a week on my head.
I've heard a lot of the "high end" stuff from the larger manufacturers, and even the smaller ones. With maybe one exception (LCD2) I haven't heard anything I'd say was far and above the HF2s in performance. The k701 I found to be nice for things but completely lacking bottom. Not even in the same league for anything but classical. Rock on the K701 was a 'forget about it' type of experience for me. The Denon D7000 I found to be very similar in sound to the HF2, but lacking the airiness I enjoy in the Grados. Sennheiser's are interesting, and I can see how people would like them, but not for me.
In the grand scheme of things headphone design hasn't changed since the 60s when Koss and Sennheiser started rocking out. You can put a new driver in a fancy plastic enclosure, but the driver itself is built pretty much just like they always have been. Sure there's electrostatic and planar, but even those technologies are quite old. Grado continually tweaks their drivers and housings just like everyone else, they just tend to leave the overall build and design the same (probably for interchangeability of parts since they're a relatively small hand made shop).
When I started this on site Grado's line was simply 60,80,125,225,325,rs-2,rs-1. Now they have the "i" series of those, had HF series, PS-1, GS-1000, GS-1000i, PS-1000, iGrado, IEMs, now PS500. At the same time Sennheiser had gobs of low end stuff, the 280, 600, 650. They now have gobs of new low end stuff, some new fill-ins between 280 and 600, and the 800. That's basically the same progression in the high end.
What we HAVE seen is a ton of new manufacturers, which is quite exciting, but I don't have any issues with the old guys hanging around doing what they do. The market is growing dramatically and IMO people are still trying to catch the guys who've been doing this for years and years.