I think the bass is just shy of "basshead" level, and it's fantastic bass in my opinion. This is one of the smoothest sounding IEMs I've heard (and I've heard many). While it's not my universal IEM (I haven't decided where to rank it yet in my signature, but it will be high up), I can call it one of my favorite sound signatures. I can't get enough of listening to it (and that's saying a lot if you own the AS-2 and CKS1000 like I do). I think this IEM gives just the right amount of bass, mids and full highs (stopping shy of being too harsh). My only gripe would be for it to be more comfortable hanging or over ears (not that I find it completely uncomfortable). So even if you don't believe in burn-in, I still think the more time you spend listening the more the clarity, balance and beauty of the sound will shine inside of your ears.
Does this beat a $1,000 earphone? I can't say because I've never heard a $1,000 earphone. I own an $800 AS-2 custom, and it doesn't beat that, but it can sit in the same building. I don't think a $250 should beat a $1,000 earphone and I think that's an unfair comparison (although I believe there is some technology that will come out soon and allow this to happen). But to me the H200 beats a few top tiers I've heard (i.e. SE535 and TF10), so I would call it a top tier. I don't think it beats the W4 except for bass, but it slightly edges out the wonderful sounding BA200. This is a job well done with a hybrid. Eventually I'll compare it to the Audiofly AF78 hybrid.