Question - was the price on those Ortofons worth it? I've never used a really high priced set of iem's but I just can't imagine they could sound as good as a nice set of headphones.
A top pair of headphones will have an inherent sonic advantage over a top pair of IEMs, just like a top pair of floor-standing speakers will have an advantage over top bookshelf speakers. Just like a big piano has a sonic advantage over a smaller one!
For use with a portable music player, however, I find headphones to lack portability and pocketability, and a good pair of IEMs to be totally sufficient sonically.
I would only recommend spending the money on a top pair if the source is also top quality, i.e. you're using uncompressed sound files (I use FLAC format) and a good player.
With specific regard to the Ortofon EQ7s - they are very transparent and highly detailed throughout the frequency range. I found them the teenist bit too mellow for my taste at first, but thankfully the Cowon J3 has a fantastic EQ which I was able to use to nullify that. I might not have been able to do too much about it on an iPod, but then again it was more an issue with rock music than classical, and even then a small one.
To me they've been totally worth the money; they provide a very nice mix of highy quality sound and portability. The design is also attractive and solid, and cleverly includes a little bobble on the left phone so you can tell which is which in the dark.
There are a number of other top tier IEMs worth looking at too. I hear good things especially about the Earsonics SM3s.