The HiFiMAN HE-400 is definitely one of the best sub $400 headphones around for at home listening. It has the distinct orthodynamic sound and is tweaked to resemble the HiFiMAN house sound which is smooth with an emphasis on the bass and midrange. The HE-400s are by far the most musical and interesting headphones in its price class that I have heard for a long time.
It has more midrange details than the HD-650s and a well extended powerful and controlled bass that is found on the more expensive HiFiMAN orthodynamic headphones. If treble definition and extension is your primary concern keep looking because the HE-400s will not provide a class leading treble performance. It is, however, more than adequate to give a good rendering of most musical instruments. Speed wise the HE-400s are a bit down compared to its bigger brother the HE-500s, but it is definitely still among the better headphones in that regard.