Up until today, I would have told you headphones hands down having never heard high end speakers in a quiet environment with a quality source.. etc. Today I got to go to the only local audio place I've found in my area that had headphones to try. Got in and tried some RS2i's and the HD800's and was blown away at the quality, even though I don't consider my DT990's bad by any stretch. The guy who was walking me around asked if I was interested in speakers at all. Took me in to try out a lower cost high end set up, with some PSB towers and I was blown away at the sound. Just having listened to the HD800's for the first time, the experience with the towers alone was leagues better in terms of full the experience of music. Now I'm currently looking to save up for similar speakers for my place! I think each has its own place, unless you live in an area where you won't disturb anyone with your speakers, they aren't always practical, which is where headphones come in. At the same time, its really hard to beat the fun of feeling the music as well as listening to it. Btw if any readers are in the DFW area, and have a day to go into Dallas, check out Audio Concepts. The guys there were super helpful and patient, not trying too hard to sell me anything.