[Photofan1986]

Ok, I know. I already made such a statement when I bought my girlfriend a pair of RE1. And I still mean it. Unfortunately, they died on her after about one month of use. And unfortunately, I bought them second hand, so no warranty.
I decided to buy her a new set of phones, but as my budget is quite tight right now, I decided to buy a budget phone and settled on the Soundmagic MP21.
They arrived today in the morning!

I nervously opened the (nice) little box, and was very surprised at how little those things are! Great, my girlfriend has small ears, and cannot stand big phones (unable to put my IE8 in her ears). Then, a very nice range of accessories for the price! Kudos, Soundmagic

Next, the sound. And that was certainly the biggest shock! Man, for the price I paid (24€, postage included), they sound AWESOME!
BIG sound, quite warm (I like warm sound signature, anyway), quite detailed (at least, I did not expect so for the price). The bass is full and rich, not the fastest and most detailed out there, but is very nice nonetheless. The mids are very nice! Again, did not expect that! The highs are a little too recessed for my taste, but that can be corrected with the equalizer. All in all, they are very natural sounding, and perhaps a bit too warm, but very very nice! Oh, and the comfort is excellent, better than IE8 due to their small size.

My GF was using Creative EP-630 before the RE1, and I must say that I expected a similar performance from those cheapo Chinese phones! How wrong could I have been! There is simply no comparison between them and the Creatives!!

Now, the most crazy part: put them against 10x more expensive phones, my IE8. I thought there would be no comparison...well, I almost fell from my chair! Jesus Christ

(Disclaimer: I was not drunk while testing those, nor was I under influence of any illicit substance...)
To make a long story short: amazing. Whether the Sennheiser IE8 are wayyyy overpriced, or those little MP21 are really great for their price.
Compared to IE8: bass is a little more boomy and there is more in quantity also. The midbass hump is way smaller than on the Senns, and the mids are quite natural sounding. No sibilance to speak of. A little harsh out of the box, but we'll see after burn-in. Highs are more recessed, but benefit well from a little equalization. And last but not least, the soundstage is not bad, not bad at all! A little narrower than IE8, but really not too far off. The level of detail is not comparable to the IE8, but they are no slouch either.
All in all, with a little equalizing, I can make them sound quite ("scaringly") close to the IE8!
So, at the moment, I don't know what to think. The IE8 might be better, there are definitely not 10X better. I would rather speak of an incremental increase in quality. Now, I cannot speak for the build quality at the moment. Will they last? Even if the only last one year (the warranty period), they will be worth it.
I am beginning to wonder whether it's really reasonable investing so much money in IEM (IE8) when cheap phones like those deliver such goods.
My experience is limited, but I've still heard a fair amount of headphones and IEM to be able to make a subjective statement (HD555, HD595, IE8, SF5pro, SF3, RE1, Sony EX-082, D-jays,...)

All in all, I could certainly live with the MP21 as my main IEM! But I keep my IE8, because they are better, still

.... but...WOW
 
 
EDIT: Saturday 8 Mai. I come back to share my experience after spending several days with the MP21. Just to make things clear: I don't know whether it's due to burn in or anything else, but my prior vastly positive impression has been tamed, to say the least. I still think it's a very nice sounding phone for the price, if you like bassy sound signatures. But in no way it can be compared to an IEM like IE8. The latter are vastly superior in about every aspect. No comparison. I am amazed to have been thinking they might be that good

. I wonder if it's due to a change in sound due to burn in or if I got accustomed to the sound and am finally able to make up my mind correctly. Anyway, there is a good lesson to learn: never make a definitive judgement concerning a piece of gear on a first impression!
Still, the MP21 are quite good sounding, but I could do with a little less warmth (it is even far warmer than IE8).

 

[rawrster]

The PL21 goes for less than 24€ doesn't it unless of course you didn't get them from hong kong which comes at a premium. I have the PL30 (which is supposed to be better I believe) and it is quite nice for the price. Sound Magic is known here for being top contenders at their price bracket. However I wouldn't go as far to say that I could handle the PL30 as my main iem. I wouldn't mind using them for a couple days or even use them for a bit longer as a backup but that's about it for me.

I would probably wait until you have had them for a while and then see. Also in regards to price of course more expensive ones aren't better than cheaper ones by the same amount their price may dictate but that is something that should be expected. Law of diminishing returns is expected here.

 

[Photofan1986]

Yes, I bought them from UK, for faster delivery and to avoid potential problems with customs.
Of course, I'll have to know them better before making such bold statements

But my first impression were so vastly positive that I wanted to share them

I will certainly come back in a few days to update my feelings.

 

[koonhua90]

@ OP congrats on your purchase. Well, I'd say IE8 is slightly overpriced. It does have its flaws, and their are certainly tonnes of cheaper alternatives that can provide better details, and do not suffer from mid-bass problem as IE8. My Etymotic HF5 at $100 (1/3 of IE8's price) have better details and clarity than IE8, for instance.

 

[ljokerl]

Agreed, nice little phones. Very rarely mentioned but for $20 they're a great value especially for those like a little more bass than the PL30 can put out.

 

[Sayajin]

Glad to hear another soundMAGIC lover. I agree with most things in here. PL21 is sure kinda a small IE8 in favor of the warm sig it has. For me the highs are as well a bit recessed for my taste but yet still to try out EQ'ing.