The MDR 7506 is a long term favorite from 1991.
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Pro Sounds fantastic
As expected from a studio monitor the MDR 7506 produces audio very close to the original production. Of course because they are so accurate, the 7506's require a high quality source.
Pro Solid build quality
The MDR 7506 has had plenty of time to fix any durability problems since its intro in 1991 and it shows. The ear-pads are the least durable part of the headphone but they are replaceable.
The MDR-7506 cost less than a $100 but competes with headphones high above its price range.
Pro Minimal sound leakage
The MDR 7506 leaks very little sound compared to other over-ear headphones, which is great when you're listening in public.
Con Irremovable and long coiled cord
The MDR 7506 has a coiled cord that is about 10 feet long and while this is great for studios, walking around in public would be slightly awkward. The cable also cannot be removed and has no remote or mic.