Just did some minor listening (30 mins) with the NE-7Ms (just arrived) and Larry, you are on the money again. Very, very nice sound, and at $49, no phone even close at that price to the SQ out of these phones. I am going to keep my X10s and of course, my new W3s (as soon as I can "reopen" them on Xmas), but the Custom 3s are going on the sales block. I am content with the 7s, the 3s, the X10s and the modded 716s as my four IEMs.
Since I have an iPod Touch 2G, these are really great. I switched over to Comply T400s, since I don't care much for silicone, and they work very well. Probably get more highs out of a silicone sleeve, but comfort is more important. Not going to do any lengthy review (feeling down from a cold/flu), but I can add to Larry's initial belief that these phones are a tremendous bargain, and outperform many higher-priced phones. Example, I would choose these over the UE TF5 v2s I returned. I also won't repeat Larry's initial comments. Just wanted to say anyone looking for a low cost, hi-fi alternative, these phones hit the mark.