[Update: Reduced the star rating from 5 to 3. They were the genuine article and very good while they lasted (see the original review below). Unfortunately, after eight months of careful and considerate use, the infamous, common fault appeared: the volume and the sound quality of the left earphone quickly deteriorated. I have now replaced them with Amazon-special Klipsch X1 headphones at half the cost.
Klipsch Image X1 Headphones The Klipsch actually sound a little better. Let's hope they last longer, too.]
I have had the opportunity to compare a counterfeit version of these earphones with the genuine item and I can see why there are so many negative reviews: there must be quite a few who have bought the fakes. The real ones sound nowhere near as bad as the negative reviews would imply.
I bought one of these at a bargain basement price, thinking myself very lucky. I had read elsewhere that there were a lot of fakes around, but I thought that was just the usual nonsense you read on the Net. The earphones I received were in a genuine looking box and the build quality looked fine. But even after burning them in for a week (including leaving them plugged in and playing overnight), there was no bass whatsoever. Plenty of detail at the treble end, but forget the bass.
Eventually (don't ask), I ended up with the genuine thing. Side by side, the fakes look as good as the real thing. The only difference that I could see was that the mesh over the speakers was finer on the real thing, which became almost translucent at some angles so that I could see the tiny speakers at the bottom.
You will find a lot of misleading advice on the Net about things like the 'leather' pouch included with the genuine earphones. In fact, the pouch is not leather. Turn it inside out and you'll see that it is just pvc. Even more ironically, the fake item came packaged with a better looking pouch, which looked like simulated leather, whereas the real ones had a cheap, shiny, real pvc-look pouch.
But how about sound quality?
At the treble end, I would have a hard time separating the real one from the fake. Both are quite detailed. On the other hand, the real ones have thumping bass (once you've got the correct fitting for your ears) whereas the fakes have none whatsoever.
One criticism: while there is a lot of bass, it is not detailed bass. Compared with a pair of decent (but unfortunately big) over-the-ears or a pair of monitor speakers (nothing horrendously expensive, just a pair of Edirol M7As), these Sennheisers smear the bass a bit. With pop penny-dreadfuls or yelling rock, it shouldn't matter; with more considerately mastered material, there is that nagging feeling that it could have been better. But then, what would you expect from drivers that are only millimeters wide? And this was in a quiet room. In the environment where most of us use these -- public transport, walking about -- the ambient noise becomes a bigger issue than the bass smear.
[Update: After several months' regular use, the bass sounds much better. Has it taken a while to burn them in or have I become used to their flaws? I don't know, but they sound more than good enough, now.]
So, forget the detailed photo comparisons of fakes and the real things. The only way most of us will be able to tell whether we got a fake is when the sound quality is not up to scratch (but make sure that you have them correctly fitted to your ears before you go chasing the poor trader.)
These earphones also insulate the outside sounds well, but, yes, you do get noise from the cable rubbing or flexing. On the other hand, they are quiet enough not to annoy people sitting next to me on the train. Wish other people had them, too; I would not have to listen to their music tsk-tsk-tsk'ing at me.
In summary:
Excellent sound quality for the size and price, but if I could, I'd take over-the-ears or a decent pair of real speakers any time.