The treble is definitely too strong, but I found the simple ipod treble reducer fixed that. The rest of the sound seemed about as good as anything I've heard up to $100 U.S., but I'm not the IEM expert, so there may be other factors involved. BTW, check out James444's review of the Thousand Dollar (u.s.) Senn IE800 - it makes the MA350 look like the greatest bargain in history.
http://www.head-fi.org/t/642528/review-sennheiser-ie800-appreciation-frustration-and-a-bunch-of-what-ifs