Here is the problem though. It isn't that he does not like the sound, he is affixing a reason to it without evidence of it. It is just supposition which can easily be misinformation. It wasn't that he stated the issue without reason, he gave reason without evidence, stating that "professional" friends said it was the case and thus must be true. That is just not stating an observable phenomenon, but affixing an reason without a reproducible experiment CONFIRMING the source. I'm sorry, but that perpetuates misinformation which I cannot agree with. Either determine the source with a reproducible experiment or don't theorize about the source of the problem. It's that simple. It isn't EVEN the DAC conversion, because the DAC is channel independent. So he was straight up WRONG, either he or his "professional" friends were at least. That was easily provable from just looking at the schematics. The source of the mixing was elsewhere. And as I said, considering that is the case, it is very likely a software problem rather than a hardware problem, because Wolfson is WELL KNOWN for creating high quality DACs, so Cowon can probably fix the issue with a bit of work. The fact that he fixed it to a DAC conversion problem was misinformation and that should not be the case here on Head-fi, either you know the source of the issue or you don't. Never should there be a case where someone gives an educated guess about something with a piece of equipment and passes it off as unequivocal fact. If it was opinion or supposition he should have stated it as thus or linked to the proof. He did neither. That is a very serious issue with me. Its the same as people recommending headphones without ever hearing them (I'm looking at you ATH-M50). All it does is give people wrong information which lessens the quality of this forum. I joined this forum because it was a source of very good and accurate information about headphones, sources and the like, but now, it seems that people are more increasingly talking BS to gain a better reputation within the community.
OK... So a few things... Rockboxed iPod 5.5 sounds *very* good. However, I don't think the two can be compared due to power and chip differences. I actually agree that the Rockboxed iPod 5.5 sounds more neutral, just a bit. But its not that bad, and easily fixable with the hardware based EQ of the Cowon. Once you get used to using the EQ of the Cowon there is no going back. I've always said, that Cowon is for the music enthusiast whom loves to EQ, but there are other players that are better for pure audio enjoyment at neutral settings.
The flap over the port... It is not the best built, but it does last. Mine is starting to come off a bit, but I could easily fix that with a drop of super glue. I've had the player for a while (I don't even remember since when to be honest, but more than a year certainly, probably close to two)
The CD.... Really? Mine came with one... it was at the bottom of the box that the player came in. I'd look again and take EVERYTHING OUT. Its a small mini Disc.
UI can be changed. I personally like Kizune's work which also has playlist support, but no Cue files unfortunately. But it doesn't take that much effort to make new playlists within Kizune's UIs.
The playback buttons are perfect for me since I have the player almost always in my pocket. I've never accidentally pressed anything. However if that is an issue, you can set up a playlist in Kizune's UI and lock everything which should fix the issue.
The reason why it keeps playing when headphones are unplugged is due to limitations in the firmware. It was designed to switch to speaker. It isn't a more advanced OS like iOS or Android. So it will keep playing as if it was going to switch even if you have it set not to. Its a small annoyance though, and not a big deal, at least I haven't found reason to take issue yet.
Locking it is simply a matter of hitting the power button 3 times.
Hiss noises? Depends on the settings. If you play around a bit you'll find that it is quite differential depending on your settings. Though doing certain things does make some static, but its not across the board.
Honestly, I'll pay a bit more for hardware based EQ than software based, it just works better IMO. But that is me. I like that feature.
I do hope your impressions improve over time, because it is a fantastic little player.
The battery life is what really sold it for me though. Not having to charge it every 2-4 days is big. I basically charge it every week to 2 weeks. And that is why I love it so.
PS: yes, for my big hands it is a bit small, but again pocket + buttons = works.
I hope I helped a bit.