Here's my review of the Phiaton MS-300. Out-of-the-box-sound is not good - I shored it up with Audioforge which makes it really excellent, although I'd guess that very few users will do likewise. The MS-400 does sound slightly better, especially in the deeper bass, but it has a thin double-entry non-detachable cable, so I prefer to use the MS-300.
http://www.hifiheadphones.co.uk/forum/showthread.php?t=4130
http://www.hifiheadphones.co.uk/forum/showthread.php?t=4130