Great write-up! My only critique of it is that it falls into the exact same trap, a little, that most of the professional reviews do, which is why HE-400 is probably the most impossible to categorize headphone. You discussed the price difference from 400 to 500 being mostly due to the automation, but so many paragraphs read like you're trying to evaluate them with the pre-conception that they're from a lower tier and should have certain flaws. It's not a knock on you, I haven't seen a single pro critic not do the exact same thing.
But imagine if both headphones were $700 right now. Think of what that would change in the review, positive or negative? Does HE-400 have any flaws that would be unforgivable at the same price as HE-500? Does it have any advantages that would suddenly appear instead of being flaws if they were both $700 headphones? That sort of thing. Would HE-500 have some unforgivable flaws at an even price point where HE-400 would win? I realize you don't have both, wje does, but those are the kinds of things I'd love to have seen from the pros, so it always pains me to see a subconcious attempt to pre-categorize this headphone as "the lower tier", since it's bound to have many differences unrelated to "better or worse" just by being voiced differently, and it would be a more true comparison to assume both are equals and contrast the strengths and weaknesses, than to start with the assumption that HE-500 is better, therefore all differences are a result of that. I liken the difference between HE-400 & HE-500 more as the difference between HD600 & HD650 than HD650 vs HD800. HD650 is technically superior to HD600, and is pricier, but they're so different that while one is technologically superior it would be impossible to subjectively or even objectively call one better than the other. Each has a different signature and that's the overriding difference. Manufactured via the same means, I think HE-400 and HE-500 would fit that description as well.