Got my iBasso CF-01 yesterday but only get to listen to it today. So here are a few impression:
1) The design of the case is very nice - roomy on the inside, even for a pair of CIEM. I especially like the built-in air cushion that will offer quite a lot of protection to the earpiece.
2) I COMPLETELY dislike the smooth outer finishing of the case - it is very slippy and I almost had the case flying out of my hand a few times when I tried to open the case by one hand.
3) The adapters themselves are nicely finished. The actual size is even smaller than TRN BT20s / FiiO UTWS1, but so are the overall battery life (if you don't consider the battery case). Cable isn't rigid like other but not completely soft either, which I like. Button placement on the top is acceptable, though I prefer it on the side.
3) No hissing detected with my MassDrop Plus.
4) Output impedance is a WHOOPING and very disappointing 20 ohm (measured twice to confirm, which kinda explain why it doesn't hiss at all)
I listened to CF-01 with my dual driver MassDrop Plus first, and it sounded very warm and almost slightly veil - which is not the normal MassDrop Plus's warmish neutral reference sound that I am fairly familiar to, and that made me feel suspicious. A quick measurement revealed that the CF-01 has a very much unforgivable 20 ohm output impedance and that just mess up how MassDrop Plus is supposed to sound. In contrast, OE Audio WS-1 manages just 0.5 ohm of output impedance even though it hiss very faintly with Massdrop Plus (*only on near silence passage and usually close to undetectable during music playback). With an MMCX-to-2-pins adapter, I listened to CF-01 again with MoonDrop SSR (*which is one of my recent good find) - being a single dynamic that doesn't get affected much by output impedance, SSR sounds much more 'correct' than Plus. I can tell SSR still sounds slightly warmer, richer and smoother than usual, but at least it is not offensive.
At this point I am not sure I'll recommend CF-01 - it does a lot of things right, namely the premier overall design and the finishing of the adapters; But it has its faults as well, namely the overly smooth outer finishing and that 20 ohm elephant in the room that can't be ignored by anyone who intends to use CF-01 with multi-driver IEM (*which will probably be like > 90% of people out there these days). Ouch! (and considered this is by far the most expensive TWS adapter I bought yet!!!)