Here is R side of PM-2 with the Alternate PM-1 pads. "Alternate PM-1" pads is the official term. This is from Chris @Oppo.
As you can see FR is very good. Bass distortion in bass and mid to treble is good. Little area in lower mids upper bass where distortion is not good. Headphones sound exactly like that on the graph.
Subjectively speaking (I listened before measurements):
- PM-2 sound really good and are more open than PM-1. PM-1 sounded more veiled and less open to my ears.
- Stage is narrow, but realistic. Depth was good with EC 4-45 and AGD M7/OR5 setup.
- PM-1 is superior to HE-560 and LCD-2 in regards to tonal response with HE-560 being on the dry side and sometimes too shrill on vocals with the wrong amp. LCD-2 is too laid back with unsmooth treble - although most do not hear unsmooth treble. LCD-2 has the most massive bass power, but PM-2 is not far behind. HE-560 and LCD-2 seem more resolving and cleaner than PM-2.
- At $699, PM-2 is appropriately placed in pricing. Maybe even more so if you value tonal response over resolution and other technicalities.
More measurements due tonight.