So far I've only had a few hours to listen, and I'm still adapting to the sound of the f111, however it is without a doubt one of the best IEMs I've ever heard. In fact, I'm not sure if I prefer the er4s or the f111, but they are the top two in my book.
If I compare them with no EQ, the f111 wins in a lot of areas. They have nearly perfect bass, better comfort and better soundstage. They give possibly the best non-eq listening experience for an IEM. However, they are not as even or extended as the er4s in the treble. Don't get me wrong, the difference is small when you compare both of these to ANY other IEM I've heard. However, the er4s is just treble master with red filters or green for that matter. The er4s bass, even when at similar levels lacks something that the f111 has in the bass. I'm not sure yet if it's the attack or texture or something, but I prefer the f111 bass. However, the er4s has more airy openness up top.
The f111 still manages to pull out pretty much the same level of details, but just in a slightly warmer way and with a little less smoothness up top. But again, this isn't a drastic difference really. They both have an etymotic type sound to them. The f11 just sounds more full and robust and bigger. The er4s sound more open and analytical. It's like your looking at an image and inspecting the details, where the f111 is a little more like the image is 3d or at least the image is more immersive.
The f111 winds hands down in comfort and typical user features. The cable is excellent and feels great. The tips are nice and don't require any ear bleeding at first. However, the er4s still wins in isolation. The f111 is very good, but the ety is just insane. I have a loud a/c unit in my living room. Loud. The etymotic literally blocks it all. I can't tell if it's on with the deep silicon fit I get. The f111 blocks it so that all I hear is a very faint hum. Enough to know it's on, but not interfere with the music really. So I wouldn't avoid them if you want great isolation. They are great. But the etys are greater. haha.
I'll post more as I listen more.