The IT03 is a bit more V shaped with a much stronger bass and sub bass. The P1 is relatively mid focused with not as much bass or treble. The IT03 sounds cleaner and clearer to my ears, I find it's V shaped response to be very well done which adds a lot of clarity and definition to the sound without overdoing the coloration. Additionally, I wouldn't call the mids recessed at all, they are nicely level in the presentation. The P1 is good but not as fun and clear sounding as the IT03. The IT03 is easier to drive as well.
Sonic wise I believe the IT03 would suit you better, but one reservation I have with it is the fit. It has a custom IEM like shell design which can be a bit polarizing with the fit. Luckily it fits extremely well in my ears but I've heard complains from people.
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