Will cross-post my impressions posted elsewhere.
ZMF Caldera
By Peter Bradstock, Double Helix Cables
Welcome everyone to my early impressions of ZMF Caldera. As a long-time ZMF owner, I was given the opportunity to try these pre-release. I paired them up with my May KTE > HPA4 > AHB2 stack, and got started. I do not write a lot of reviews - I'm a cable builder by trade - so this one will be a bit haphazard, but I hope I can give a clear picture of an exciting new headphone.
Preferences and headphones to date
My daily driver is usually the always nice, but always controversial Hifiman Susvara. Hard to drive and often accused of being boring, their emphasis on perfection burns out one listener after another in the end, with a dedicated few putting together a system good enough to be worthy. They are a good match for the very technical indie electronic (the sort favored by the Goldensound boss) that my collection leans toward, although I collect every genre with few exceptions. I also enjoy the Raal ribbon headphones, which despite their imperfections are insanely detailed and a good lower-budget Susvara alternative with a few quirks. The recent DCA Expanse with its vivacious personality is a good counterpoint to Sus and Caldera, with a sound that manages to be both lean and aggressive but with adequate bass punch despite all the damping. Because a lot of my music is electronic, I'm looking more for staging, microdetail, resolution, and music that sounds "interesting" on headphones. I call it "clack," you can call it whatever. Punchy, palpable little details. The track "Bon Voyage" by Droeloe is your example of that trait.
Unboxing and wearing
I'm used to this one, but it never gets old. I adjusted the clicky metal sliders, which are made of a coppery-orangey anodized aluminum to match the dished, shiny art deco style grilles and help save weight (which clocks in at 500g). I was assailed with the smell of fresh wood & leather and noted the review model stamp on my headband -- my first time getting one super-early. While ZMF has made headphones from just about every tree in the forest, the new "Coffee Oak" finish was very intriguing and matched up well with the aluminum colors. As I peered inside the cups, I saw the slats of bar magnets instead of a round dynamic driver - the first time seeing this in a ZMF since the Fostex mod days. The weight and clamp were just right, and after noticing something was different with the pads (namely, that they were heavily micro-perforated) I then noticed they had the best fit I've ever enjoyed from a headphone pad. Zach explained to me that there are specifically contoured pads for left and right and they're uniquely shaped in more than just one dimension. There is some LCD-5 style dishing and a few other tricks he considered patenting. The new pad is extremely comfortable, like an old shoe, and has an excellent seal. The tricks continue with the driver, a double-sided magnet design with specially-shaped magnets on the *inner* side (not on the outer side like a fazor, but on the side facing the driver itself), while also employing the Atrium rear damping scheme, to maximize performance. Zach doesn't do any changes or innovations unless they help the headphone measure and sound the way that is intended, and the combination of planar driver, special tricks, and overall ZMF tuning help cement this headphone in my keeper tier of headphones (and there's only 3-4 slots there).
Tone impressions, starting with the...bass.
These have a heck of a lot of punch as planars go, approaching how Susvara or Stealth punch when connected to hugely overpowered speaker amps. The membrane is not as damped as some planars - it's actually moving some air, as one of my complaints with Stealth on a normal amp is nonexistent slam. These slam all the time, without being excessive. On the right tracks, they will edge out Susvara on slam. While they don't match up with the hat-trick sub-bass of Abyss, I strongly prefer their overall sound and presentation, and they get pretty close.
Mids are sweet and lush without being saccharine; they aren't overtuned or sharp in any way, which can get in the way of enjoying LCD-5. Vocals are engaging and speak straight to you, with beautiful texture. Cloudy, syrupy, stuffy - these words don't describe Caldera, which is a nimble sounding planar with strong technicalities. Even with my harsher test tracks from Grimes, the headphone maintained its composure and didn't barbecue my eardrums. On top of the mids, there is abundant treble sparkle and resolution, while completely avoiding fatigue and sibilance. Treble issues will permanently ground any headphone for me, regardless of price or reputation - everything from original HD800, to Beyers, to AKGs have been given the ban hammer for not meeting my needs there. At the same time, there has to be enough - nobody likes treble roll off. On the same Grimes test tracks, these go into the outer reaches while maintaining listenability. There is no substitute for the conspicuously addictive treble that estats produce; I'm not saying the treble is the best I've ever heard (I loved the Warwick Bravura and it'll be joining the crew soon), but there are certain tracks that are grating on Susvara that are more listenable here. As with other ZMF, they lean more forgiving for a variety of recordings.
Soundstage, resolution, and Pirates.
For this section of the test, we get out the Susvara's hat trick feature - playing back Hans Zimmer's pirate song with really good separation between stuff. That is the one thing Sus definitely are known for. I put them through their paces, and while they're a little spare and diaphanous, you do hear all the yarrs and cannons with stark relief in between. Just about every other headphone, in comparison, sounds like blenderized oatmeal with this track, a big pastiche of nothing. Planars like Empyrean get flushed, and various costly headphones over the past year have left me unimpressed by the Zimmer. Atrium did better than I would've guessed for it, but not quite there. So, imagine my surprise when the Caldera handled it...pretty darn well! I would say the staging was wider, albeit less transparent, but well filled in with punch, attack and dynamic contrasts. No soundstage holes, more immersive, with roaring horns all around. It was a more fun rendition of the pirate soundtrack, without sounding like oatmeal. Not quite the Susvara microscope for the track, but possibly a more enjoyable alternative, and well ahead of other renditions of it from other headphones. Switching to the Raal CA1A, they sounded comparatively one-dimensional and lifeless, and I couldn't listen for long. And this is a headphone that is one of the short list of keepers...
Switching to Magdalena Bay's Mercurial World album, probably my favorite album of the decade, they kept up with Susvara while putting their own mark on each track, adding the punch of the best dynamic headphones and some ZMF easygoing richness. When I say keep up, I really do mean equal enjoyment - I was struggling to give the win to either headphone on the album that means the most to me. Sus has some great little nuances that remind you how realistic they are, but the irrepressible fun factor of the ZMF while still having very high technicalities means I really will be splitting up my head time here and doing some more soul searching as to what I really want in a headphone. Very few headphones could be called my co-favorite -- on some days it's the Expanse, but the battle will continue over the weeks and I don't think you can go wrong with any of these 3 headphones.