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Hmmm... from what I've read, the Yamaha Pro 500 is definitely v-shaped with a bass emphasis. there is nothing inherently wrong with that if that is what you are looking for, but for $400 you can get the HE-400. $300 you can get the M100. I am curious what headphones you have tried if you are saying this is the cream of the crop. Kinda seems like hype of the week to me.
The 500 is legitimately made of plastic and aluminium (the same premium materials found in soda cans)... the design isn't even original. So basically, Yamaha (a company w/ no previous experience in headphones) suddenly jumps into the game & releases a Ultrasone Sig Pro equivalent at half its cost? Yamaha would have to R&D from scratch while Ultrasone has 20+ years of experience specializing in only headphones. I am just highly skeptical that the 500s offers anything more than any other highly-rated closed headphones in the $200-300 price range. Yes, they might offer a slightly different sound signature. But definitely not $100 worth of sonic upgrade.
I seriously feel like it is just a bad joke.
It all depends on what you want really. As per my review, if you like "Beats" style with better sound (i.e. no muddy mid-range due to excessive bass), these are good alternatives. But (as per my review also) this price bracket is pretty competitive. Break down:
Comfort: Mad Dogs --> D5000s --> Sony MDR-1R --> Denon D600 --> Yamaha Pro 500 --> Signature Pro --> SRH940 --> A900X --> V-MODA M100
(this is taking into consideration both earpad and headband feel)
Build: Signature Pro --> Mad Dogs --> A900X --> Denon D600 --> Sony MDR-1R --> V-MODA M100 --> Yamaha Pro 500 --> D5000s --> SRH940
(if you wonder why the M100s ranked low, cracked wing-tips on supposedly indestructible headphones! BAH!)
Sound Quality: Signature Pro --> Mad Dogs --> D5000s --> Yamaha Pro 500 --> Sony MDR-1R --> V-Moda M100 --> Denon D600 --> A900X --> SRH940s (note, ALL of these have a GREAT sound and some are "special" on specific genres, but when nitpicking, this is how I would choose them)
For me, even though I like their sound more than that of the Sony MDR-1R, VModa M100s, Denon D600, etc. the comfort factor was not too good for me. Also, the Pro 500s are being sold now even at $300 (and I pretty much think it's going to go further down) so IS IT A GOOD ALTERNATIVE against the Sony, V-Moda, Denon, etc.? I say yes!