It's a great video. People were accusing Ars of promoting Grado, but I think the Grado house and business model are different enough (from overseas factories and multinational conglomerates) to deserve a feature article.
Also, it inspired me to research headphones again, for no good reason. I'm already very happy with my current setup (Sony D-EJ2000 + Alessandro MS-1 at work, Arcam FMJ CD36 + Headsave Classic v2 + Grado HP-2 at home).
I started a long time ago with stock Panasonic over-the-ear headphones and a portable cassette player, moved into low-buck Koss headphones when the Panasonic broke, and stayed with Sennheiser HD 320 headphones for ten years with a Panasonic SL-S160 portable CD player (still working).
After updating myself for a few days on the interwebs of headphone stuff, I'm still glad that I went with the MS-1 for portable/desk use (and grabbed the HP-2 when the opportunity came up). There are a lot of new products on the market, but the classic stuff stays around too (e.g., Sennheiser HD 600, Koss PortaPro, etc.).
I have mixed emotions when I think about people who are new to the headphone game – they have a lot more choices, but too much information (and hearsay) are overwhelming. Higher prices on the new flagship products are also discouraging... fortunately, the market is big enough that you can still find value for your dollar. At one point, I found myself reading reviews of Monoprice headphones. That was ludicrous... after you've heard the good stuff (AKG K1000, Grado PS-1, I'm looking at you), it's very hard to go back.
It always comes back to a long, careful equipment audition, which is hard to do at headphone meets and audio stores. System synergy is also important – testing a piece on other people's gear, music, and listening environment often leads to a misleading impression.