[This is more for the OP so that the information on the HP-P1 is clear as a potential option].
As per
Jude's video, the impedance mismatching is more for the hard-to-drive headphones like the ones I mentioned above (LCD-2s, Hifiman HE6, HE500, etc), rather than BA IEMs. This is just about pairing the right amp for the right headphones of which he mentioned probably only the SR-71B could pair drive those kind of headphones properly. With regards to the BA IEM, Jude mentioned that at really low volumes, one can hear a channel imbalance and those who have very sensitive IEMs such as BA IEMs may notice this. If one were to just turn the volume up a little more the channel imbalance disappears. So with my personal experience, the channel imbalance is so low that I don't even notice it even with my BA's 'cos I think very few ppl will listen as such low volume levels.
So my recommendations to the OP :-
1) if you have an iPhone 4/4S the VentureCraft GoDAP is the most compact solution.
+ SQ is great. Good overall DAC/Amp combed package
- could sound a little grainy with highly detailed headphones
- stuck to the 4/4S form factor (unless you want to use an dock extension cable like the in the pix above
- cannot separate DAC/Amp
2) Fostex HP-P1 for iDevice
+ SQ is good after the amp gets a decent amount of burn-in (100hrs?).
+ Most flexible solution
* works with any new iDevice (doesn't work with iPod G4 and older)
* can use as a DAC/Amp which is 2nd most compact to (1)
* can use as a DAC only - which is a very good DAC...IMHO, better than the RSA Predator, on par with the DACPort. Can use amp of your choosing
+ Can drive most IEMs and headphones except the hard-to-drive headphones of which other amps would have similar problems (with the exception of the SR-71B)
+ Cheaper than CLAS+Amp combo if used primarily as DAC/Amp mode
- It does take some time for the amp to burn in before it starts to open up.
- Most compact only when used in a DAC/Amp mode
- Can't drive hard-to-drive headphones
- Channel imbalance at very low volume (just above the "power on" click)
3) CLAS for iDevice
+ Great SQ, very detailed (could be +/- depending on your taste)
+ Modular, can mate with amp of your choice (but if matched with a very detailed amp, then the whole combination can sound rather clinical)
+ DAC-to-DAC, slimmer than the HP-P1
+ Cheaper solution to HP-P1 DAC-to-DAC only comparison
- Must have separate amp
- More expensive than HP-P1 as a DAC/Amp complete solution
- Bigger stack to carry than the HP-P1 as a DAC/Amp complete solution
- Can be extremely clinical if paired with the "wrong" amp (see
GoogleLi's post of which after I've tried, agree with his conclusion)
@Somnambulist, I think with you settling for the CLAS, is a nice choice too. I actually use the CLAS+Pico more than I do with the HP-P1 myself as I throw everything into my satchel so space is not a big deal.