It has been awhile since I visited this thread
Just got a package from Penon, and figured to drop by with a little teaser:
TFZ Series 1 is a real deal!!! I only listened for about 10-15 minutes, and the sound really opens up in front of your... ears
Based on the changes I heard right out of the box and 15min later, they definitely need a serious burn in, but I already hear a potential. Soundstage opened up, very wide. Upper mids/treble clarify and details are starting to shine. And the bass... well, get ready for a serious mid-bass slam. Don't want to jump into any final conclusion because sound is still changing, so I don't know if mid-bass will settle in, but it definitely has a healthy punch, yet still well controlled and without spilling or muddying lower mids.
The packaging is first class, these guys really paid close attention to details. And as you can see from Penon product page:
http://penonaudio.com/TFZ-SERIES-1 as well as manufacturer page:
http://www.tfzither.com/about.html you get a ton of design options to choose from. Impressive for $39.
Will definitely have a full review when I get around to it!