I compared Morphit (demo) and Reference 4 (purchased upgrade from v3) with my AKG K702 headphones the other night. The difference between them was not subtle - huge infact - and I preferred Reference by far. It tamed the crispiness and put some natural weight in the lows that are missing in the headphones.

I wanted to love Morphit too because I have almost all of the ToneBoosters stuff and they tick the boxes: price, quality, CPU efficiency, features etc - one of my favourite developers.

Admittedly I didn't delve too deep into trying to match them. Could be partly a case of user-error (ie: grain of salt..)