bigshot
Headphoneus Supremus
The difference is the frequency extension. Cheap portable headphones may only go down to 40 to 80Hz or up to 12 to 15 kHz. EQing beyond that doesn't do any good because they just aren't able to reproduce sound beyond those ranges. But as long as headphones can handle the full spectrum of 20Hz-20kHz without distorting, it should be possible to adjust the response any way you might like it. Midrange cans usually can handle a full frequency range, so they can be tweaked to sound much better than just leaving them as they are.