Mal - I agree with your post - but at the same time, everyone has a different opinion on what sounds good. The problem is that what I'm reading does not sound the least bit like elitism. It more sounds like different opinions. The problem is that Oldshoe seems to have a chip on his shoulder and can't appreciate that some people have a different opinion.
I haven't heard anywhere near the same number of headphones as you have (or Baka, Mac, Tyl, or many others here) - but I have heard both the SRH840 and SRH940 and spent considerable time with both. In my opinion, what lets the SRH840 down slightly is the mid-bass hump. For me it made the bass a bit 'bloomy' and sometimes overpowered the other frequencies.
On the other hand while I really liked the SRH940 mids (to me they sound as though they are coming from a nice tube amp), and the lower bass extension is really good, they do have a mid-bass dip. You can see it clearly on the freq charts, and I can hear it. others have commented on the fact too - so I know it's not just me. Unfortunately for my ears - while they're great on female vocals, I personally find them completely un-natural sounding for other genres (esp rock/alt-rock).
What I would love to see Shure do is make their next headphone somewhere between the two (840/940) - I think that could be quite the headphone.
Oh and Oldshoe - I for one find a lot of your posts very condescending and quite rude. You make snide comments dismissing others opinions because they differ with yours, and keep asking for "proof" when subjectively there cannot be any. You are entitled to your opinion, and I respect that - but don't belittle others because they don't share the same opinion. I'm happy that for you and any others the SRH940 and HD800 can sound so alike. If they do - then I'd be a tad disappointed, as I would be expecting a lot more from the Sennheiser flagship - and quite frankly the complete sound of the Shure940 is something I couldn't live with (of the two I'd also pick the 840). But I'll wait until I can demo the HD800 (one of these days for sure) and make up my mind. Maybe I wouldn't like the HD800 either.
For the record - without listening myself, I'd be more inclined to believe guys like Baka, Mac and Tyll - who have also heard both - and who have generated a lot of respect for their opinions over a lot of years. Oldshoe - you may be right in the long-run, but until I hear for myself I'll remain skeptical. That is my opinion - please respect that.