With my iPod, I like to either turn down the treble, or up the bass with my Ety ER4Ps, depending on the music. If iPod did it, I'd do both.
Even when I had a player with full adjustments, there was no way I could turn my ER6s into Shure E2Cs by equalization--it's not just a matter of tonal balance, but also of how the ranges are presented. I preferred the Shures for relaxed listening, and felt they were more musical and fuller sounding, and the Etys more analytical and realistic, but not relaxing at all, and often irritating. But when I upgraded, it was to Etys, not Shures.
So personal taste has a whole lot to do with it. In general, I'm inclined to not recommend Etys for most people, though, and in your case, it might be a downright bad idea.
On the survival question, my Shures didn't last long. The cord looked thick, but it was weak. The Ety cord is smaller, and stronger. If you're going to fall 50 feet, it's better to be a weak little spider than a powerful elephant. I think the stiffer Shure cords concentrated too much stress at the junction with the earpiece. I don't know what the new Shure cords are like, though.