Hard to say as Grado quality varies so much. To be more specific the engraving (new style) is fair at best. One cup is passable but the other has some discoloration as if the cup was spun while lettering, and the spin marks were left behind. The cable had a twist + kink half way up to one of the cups which I've managed to coax out (I think). The old Grado cable wasn't great and the new one is not an improvement, at least in the look/feel department.
But you put them on and all is forgotten. Detailed and smooth and IMO better bass than the HF-1, with better control.
Edit: Now that I look closer there is also a kink on the other side but no twist.
Edit2: Maybe I'm being picky but... I ordered very early when they came to our attention, likely in the first 20. The first 25 were given out at CanJam yet my serial is >50 wtf.