Yeah, I think there were definite "fit issues" present.
My assessment long ago was that they could be Mad Dogs little brother (i.e. they were "warm" sounding to me)
My updated impressions:
Pros
Tiny (this is a good thing... portable is the word)
Extremely comfortable on my head until the second to third hour is reached (seems the memory foam recedes a bit).
They do feel "loose" on the head but are well built.
Sound reproduction has a warm tilt with good bass reproduction, good mids and highs that get more clear and vivid after a bit of volume.
Have played numerous/different genres and the headphones perform admirably.
Good punch and slam are provided if the track has it.
Can compete and surpass headphones in it's price range.
Don't really need an amp to make them sing!
Cons
Don't particularly like that one end is 3.5mm and the other is 2.5mm.
Vocals, especially female, sound a bit up-front/aggressive against any backdrop, and although they don't get fatiguing to my ears, to others it might.
For me, one of their weakness is their inability to excel at anything in particular. Some people might find them a bit boring.
Another weakness is that their sound stage is narrow and some pieces might sound like a bit of a mess.
Compared them favorably against MrSpeakers Mad Dogs as I actually preferred the KEFs on a couple of tracks but after hours of listening to both I'd still pick the Mad Dogs. They did put up a good fight though.
Compared to other headphones in their price range, I would pick these over Sony MDR-1R, and V-Moda M80s.
Right now, I'm doing A/B against the PSB M4U 1s and I have to say, that AS OF NOW for the same/similar price I'd PICK THE M500s!
In conclusion, KEF M500s == a good buy!
If whoever reads this is looking into the V-Moda M80s, MDR-1Rs, PSB M4U 1s and maybe even other "lesser" headphones, the KEFs are definitely ones to keep on the radar!
Thanks.