I'm not going to monkey around heat-shrinking cling film or poking holes here and there - life's too short, and the results are too uncertain - so I judge phones according to the way they sound 'out of the pack' - the way the vast majority of listeners will hear them.
I'm a huge fan of the Sony EX90 for its comfort, and for the (counter intuitive to me) way in which it sticks so securely in the ear, regardless of head movement, sweat, etc. Because of this, of all of the 'In Ears' I own, it's still my choice for running.
But while the EX90 sounds much better than the EX51/70/71/81, the sound quality really isn't any more than good (I prefer the HJE70, the SuperFi 5, and the Vibe blows it out of the water), and the EX90s have a real Achilles heel in that the cord is incredibly fragile where the main 'stem' meets the earpieces.
By contrast, the Vibe is almost as comfortable as the EX90 (more comfortable if you're stationary), has an admirably robust construction (the chrome model has a remarkably tangle resistant cord) and has much, much, better sound.
It's not always about the sound, of course - but when it is, I'd guess that most people would find the Vibe wins out over the EX90. Certainly I find the Vibe gives more pleasing sound, across a wider range of music, than any other in-ear in my embarrassingly extensive collection.
Of course there will be those who like an absolutely accurate and flat, cold, clinical response and they would prefer phones like the ER6i, while some real ultra bass heads might prefer the SuperFi 5EB or the Bass Freq.
But you only have to look at the many reviews to see how many people rate the Vibe as better than the ER6, the UM1 and UM2, Shure E2s, E3s and E4s, - better than phones costing far more and with long-standing reputations.
I'd go as far as to say that in the Vibe, V-Moda have delivered a step change (a quantum improvement) at this price point.