Here are my initial impressions I posted over on the PI7 forum on yesterday:
"So I received my XM4 today. I’ve only been playing with them for a few hours. I’ll go ahead and get this out of the way now, the XM4 are a step down from the PI7 in terms of sound quality. However, they don’t sound bad at all to my ears. Actually VERY good. I wouldn’t describe them as bassy or dark by any means. Bass is very comparable to the PI7. They have that house Sony sound that people either love or hate. A bass boost, relatively flat and lively mids, with a treble roll off. They are definitely on the warm side of neutral. The mids are more present than on the PI7. Vocals are slightly more up front. The PI7s are more detailed with a touch more clarity. The highs are better represented on the PI7s for sure. This is definitely not a blowout though, the XM4 more than hold their own in my opinion. They definitely sound better than what I remember of the Momentum True Wireless 2 and Bose QuietComfort Earbuds. These are just my initial impressions of the sound and they may change as I continue to listen.
On another note, everything else about the XM4 is better than the PI7. I can confirm better ANC, Transparency, Features, Connection strength, and App functIonality. Seriously, the Sony app is one of a kind. The comfort between the two is neck and neck. I will reserve judgement here until I’ve had more long listening sessions with them.
The XM4 definitely holds a magnifying glass up to the PI7 when it comes to some missing features that should be standard for $400 earbuds. For one, can we get the ability to cycle between ANC and transparency without having to go into the app? Sony just kills it with features that actually make sense. Speak to chat is cool, being able to customize the earbud controls, an EQ that saves to the buds themselves, etc.
I can already see why many reviewers are rating these as the best true wireless earbuds overall. The features, functionality, and convenience alone will impress you."