Was looking for a good portable set myself for unamped, ipod/iphone use only and decided on the Phiaton MS 400. They have better bass and are more portable, i.e. smaller than the PS 500; they're great headphones to just pick up and start enjoying music with right off the bat. Based on the song you posted, I think the MS 400 would be a great choice particularly if like me you want something really portable that blocks out a lot of sound and preserves some bass while you're commuting.
They're available at Amazon for $170-183 depending on color: both are far below your stated budget. If you want to spend $400 on the best possible set, you can do better than the Phiatons. But if you'd like to save as much as possible, the MS 400 offer great value.
If you want a more exhaustive and technical analysis of them, check out the reviews here by |joker|, Armaegis, and swbf2cheater.