I have a pair of Grado SR-125's that are from around 2002-2003. I used to use them all the time, and remember how much I enjoyed their sound. However, the earpads deteriorated to the point of unusability in ~2007, and I just kept them shelved in its original box for the next 5 years. I recently bought some replacement earpads for them (comfies), now 2012, and turned them on for the first time in years, hoping to be brought back to the old days of Grado bliss.
They sound terrible! The treble is piercing at times when the "s" sound is pronounced, vocals sound tinny and unnatural, and bass is much less substantial than I remember. These can't be the same Grados that I remembered loving so much years ago, can they?
I bought a new pair of Alessandro MS1i's, and they sound great. Even without having broken them in yet (or burned them in), they have a very full sound, with more natural vocals, more bass, and less tinny, piercing highs than my near decade-old SR-125. The two headphones sound completely different. Granted, the MS1i is not exactly the same headphone as the SR-125, but the sound signature couldn't be that drastically different between the two models, could it?
I'm wondering how much of this difference in sound could be attributed to deterioration over the years, or general use (or perhaps disuse), or what have you. No, I am not "imagining" these sonic differences. I have the two headphones in front of me right here, and one sounds bad while the other sounds great, period.