The sound has grown on me. Although I found them bassy to begin with, I think this is more rooted to the tips plus the highs on these kill the NE7Ms. To be honest, I'm not an IEM kind of person and only really wanted it for those times that I can't or don't want to lug around my Sennheiser HD25s. I'm not really sure what to expect from a good set of IEMs.
I do think the stock tips are anything but notable. So it might be a good idea to invest in some Shure or Sony replacements.
Also, I will say the build quality is great on these earphones except for ... the button. While I don't think the button is a wretched mess like the original NE7Ms were, I don't think it's much better than the one that's currently being used on the NE7Ms.
The one nice thing I can say about it is that it's nice to not have to look for button as the whole thing is clickable. But sometimes your clicks don't register if you don't put pressure on the middle of it. Plus it's not a really satisfying button. It pales in comparison to the seemless Apple button it's trying to imitate. Let it be known though, most buttons on 3rd party iPhone IEMs are fail anyway. It would've been nice to have volume controls on them, but it's still suitable.
http://flic.kr/p/9cYC67
http://flic.kr/p/9cVydK
(I can't get my flickr pics to show right, so you can click on those unless someone wants to explain or do it for me)