Very fair, detailed and informative review. More or less coincides with my views of the PM-2 and I am an owner. Maybe not the last word in detail, air, or bass slam. But no glaring defects and sounds amazingly good out of even an Iphone or very modest amp. And I use it all the time because it is transportable and I am not tied down to a system. I can hook it up to my phone and walk around my home or office getting very good -- if not reference -- sound.

I would consider it a pro not a con for not needing fancy amplifiers to achieve it's full potential.

@LajostheHun Yes and no. I mean, it's always nice when you don't need an amp to get enough volume. Or when not having an amp gives you great sound quality. Don't get me wrong that's fantastic.

But what's also fantastic is being able to take your current headphones, plug them into a $1000 amplifier some time down the road, and be hearing a whole other world.

In an effort to clarify this part of my review. The PM-2 doesnt sound like a $700 can driven beautiful by a $1000 DAC/Amp set up with just a phone. And with the $1000 system, it doesn't sound much better.

Here's an analkgy. Take any can that needs amping, and imagine a Fiio E11 driving it. Sure, it is loud enough, but you just feel like there could be something more with better amping. And there usually is. But not with the PM-2, it doesn't get any better. And I always felt like it could have a little sonething more.