Here's my take on the european ZX507...
Having recently sold my WM1A, I was looking for a cheaper alternative, and first bought the FiiO M11... This was an okay player but I thought it was a bit bright in the sound somehow... Missing a bit of depth I would say.
I wanted the uncapped ZX507, but since Joyboy don't send to Denmark where I live, and the price for an import was too high, I took a change and bought an european version from Amazon Warehouse - in new condition for about 1/2 the price of a new one...
Listening balanced the volume is acceptable at the highest level (120). Would I like to go a bit higher - sure... But it's loud enough I guess.
Using bluetooth with the walkman with my Sony WH-1000XM3 the volume is way higher - the same with the WF-1000XM3. Not sure why?
I really like the sound quality and the overall tone and depth compared to the FiiO. I don't feel I miss a lot from my old WM1A, and although I'll probably run most songs from an SD card, I like the flexibility of having streaming services available. Even the sound running wireless with the WH-1000XM3 with LDAC is amazing!
And the build quality and weight is really nice - light and compact. As mentioned by others, the batterylife is on the low side. If I run the device in battery saver mode and airplane, I don't feel the need to deinstall and deactivate a bunch of services - this helps a bit on the battery life.
I have a few weeks to decide whether I'll keep it or send it back and see if I can cash in some extra to go for the uncapped version... I wish I was able to uncap it myself, like I have previously done with the WM1A and ZX300A. But I really like the sound and think I can live with the stupid volume limit.