In case this is helpful to those of you out there who have Magnums, there are a few things I'd like to point out about making your Magnums sound their best. Like Grados, there is much to be said about the effect that the pads have on the sound. Likewise, your DAC and amp will also have a great influence on the sound you get out of your Magnums. To this end, I've found that using gear with great synergy is something that takes the Magnums from good to outstanding. After owning the Magnum V5 since they came out and testing them in a variety of configurations, I've made the following observations and conclusions:
Your source, amp, and pad choice will work together and place the resulting sound somewhere on the spectrum between airier, detailed sound and a fuller, more impactful sound, with less soundstage. The key is finding the perfect balance. I've tried bowl pads, flat pads, quarter-modded hd 414 pads both regular and reversed , and G-cush pads. I've also tried taping my pads. My DAC is my Aune T1. The nice thing about the T1 is that it uses a tube, and the tube I choose determines the characteristics of the sound. I have tubes that are warmer,more intimate sounding and ones that are detailed, ones that are forward, aggressive sounding, etc. The T1 sound options, amp options and the pad options give me a ton of potential for tailoring the sound in different ways.
Here is what I've learned:
The Magnums are naturally extremely detailed. It is one of the most detailed headphones I've heard, and I've heard a lot. All current Grado headphones absolutely pale in comparison with respect to detail (mind you, I have not had the pleasure of listening to the HP1000, sadly). In my experience, you need something like the HD800 to surpass the detail of the Magnums, and even then, you are making sacrifices in other areas like intimacy. What I'm getting at is that the Magnums basically have clarity and detail to spare.
They also have a respectable soundstage for the type of sound you get out of them. There are many headphones that will give you more spacious soundstage, but I have to say the Magnum does not leave me wanting in this area. I might feel differently if I listened to Classical music. Magnums make up for this somewhat with great instrument separation.
The Magnums have the potential for tight, impactful bass. It's not the deepest. If you are a basshead, there are many other headphones that will give you more bass. But to me, the bass of the Magnums is extremely satisfying with the right setup.
This is where synergy becomes important. Many people have tried to use flat pads or taped pads with their Magnums and Grados to get more bass presence. Most of the time, however, people conclude that too much is lost with respect to soundstage and details. I tend to agree. But after quite a bit of tinkering, I've found the balance I've been looking for. The formula for greatness, for my tastes, looks like this:
1) Get a source with great details and great soundstage. For me, I chose a tube that is both detailed and punchy sounding (Genalex Gold Lion, although I have an expensive vintage tube coming in the mail because I'm curious).
2) Your amp will make a difference, but the one you choose is going to be a matter of personal preference. Right now, the built in amp in my T1 is actually doing a nice job. I've tried numerous other solid state amps and while they do change the sound some, the difference usually isn't massive. You really just need one of good quality that will give you oomph in the low end and isn't overly bright. I plan to experiment with more amps in the future.
3) Most people prefer the L-Cush bowl pads with their Magnums. The bowls do, in fact, sound great, but they will never give the best bass response. Because the Magnums are so detailed and because I've chosen a detailed source, however, I no longer feel like I'm compromising when I take off the L-Cush pads and put on a flatter pad. The best pad overall for me has been the HD 414 pad, quarter modded, and NOT reversed. The HD 414 pads in this setup bring out the bass potential in the Magnums without tarnishing its other great qualities.
So, in summary, if you have a source with nice detail and soundstage, and if you have an amp that provides some punch, and if you slap on the HD 414 pads, the result is a Magnum that provides a uniquely intimiate, detailed, tight sound that is simply not available elsewhere.
Edit: My Magnums have aluminum chambers. I will soon have a set of Vibro Classic wood chambers. I will see if the wood chambers have an impact, good or bad, on the sound and report back because I know most of you use wood.