Hmmm, I've been trying to get my head around the difference between balanced and single-ended interconnects. You'll have to excuse me but I haven't taken the time to understand the basic principles until now.
Well after a brief read, it seems that balanced configuration is a simple technique used to remove any introduced noise along a cable length. It takes advantage of destructive wave interference (wave superposition) by sending inverse (but otherwise identical) waveforms through two parallel cables, which seem to have a common ground. Assuming the source of noise/interference alters both signal lines identically, when the signal from one line is inverted in polarity and superimposed on the signal of the adjacent line, they are identical in every way apart from any introduced noise. The original signal is reinforced by waveform summation whilst the noise and inverse noise cancel out, eliminating it completely.
Single-ended/unbalanced cables only possess the one signal line whilst (by convention) the negative wire stays close to ground potential. So without the dual-line, the receiving equipment cannot remove introduced noise by superimposing inverse noise waveforms. Any interference experienced by the interconnect will remain.
However, if the interconnect length is quite short, the likelihood of audible noise is significantly reduced. I guess it's associated with how close the offending EMI frequency comes to matching the resonant frequency of the interconnect, which would influence the amplitude of the noise. So unbalanced configuration is only really significant for long cable runs, where noise has more opportunity to summate along a larger travel. So if you have a short, high purity headphone cable, you probably won't be able to hear a difference against a balanced interconnect. The human ear can only resolve down to a particular amplitude level.