Heya,
I have the E11 and E10. I also have an Asgard and Lyr. The E9 outputs a little bit less than the Asgard. The Asgard just meets what's needed to fully drive the HE-500. The Lyr has more than enough power for the HE-500. The E10 and E11 can make it make volume, but it's not fully dynamic on that low of power. There's a reason Dr. Fang suggests at least 1 watt into these headphones. Putting a few milliwatts into it and getting volume is not properly driving them. When I test my HE-500 from the E10 compared to from my Lyr, I can tell quite a difference, especially in the low end. So if anyone thinks they're going to power their high end HE-500's with a $60 amp, I've got some disappointing news for you.
If you're looking for an inexpensive way to drive an HE-500 or any other insensitive headphone, the
NFB-12 at $200 is pretty much one of the most powerful little things you'll find. It'll throw over 2 watts into 38ohms of the HE-500 for $200. With a DAC. Way better power than $300 worth of Fiio portables linked up.
Very best,