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Those who have owned and listened to both the HE-400 and the HE-300, can I get some comparison between the two?
OK, I received my HE-300s yesterday, so I can offer some sort of comparison.
The HE-300s surprised me quite a bit as from the reviews I've read, they can have quite a "U" shaped frequency response. In most of the genres that I listen to, I didn't feel myself craving for those frequencies, though - or, the HE-300s just seemed to cover them well. The HE-300s provide a nice amount of bass. Yes, actually, quite a good amount of bass. The upper frequency detail is there, too. I was listening to some Jonny Lang - Live ... and when the slower guitar portion was being played at the start of the song, it was very easy to make out the details of those cheering and making specific verbal comments. I'm actually quite surprised at how this dynamic driver headphone from HifiMAN performs. It feels quite a bit lighter than the HE-400s.
Now, what does one give up by opting for the HE-300s as opposed to spending $150 more for the HE-400s? For one, the HE-400s, being an orthodynamic headphone have a unique sound that is capable of handling many music types and doing it with a slightly flatter frequency response. However, the HE-400 can get a bit aggressive with the upper frequencies. But, the HE-400s are orthodynamics - as mentioned before. They have better power handling capabilities, etc. and can behave in many ways quite a bit different than the HE-300s. I'm not implying the HE-300s are bad in any way - I love the sound and for me, they're "Keepers". Though, I haven't really determined what the term length of a "keeper" is in this frenzied hobby of mine.
I also want to mention that coming from a Grado past, I thought the HE-300s were very compatible with some of the offerings from Grado. I'd love to hear a dual between the HE-300s and the HF-2s. The HE-300, on the used market, can be fetched for about $200. The HF-2, meanwhile, still commands in the range of $400. I suspect the bass on the HE-300 would be better from my recollection of owning the HF-2s and the upper end detail of the HE-300s would not disappoint a Grado user in any way. In fact, I'm sure if they heard the HE-300s, a Grado lover might really take to the sound they are hearing.
Final verdict. If you have a chance to purchase a pair of HE-300s used, do so. They are easily worth $200 in the headphone world of $200 plastic wonders that are out there from so many vendors. But, if someone wants a bit more refinement in their music, don't overlook the HE-400s. The HE-400s get you into the ortho league without too much of a financial burden in making the leap.