So I wonder, is it hype? Or this IEM is an equipment that truly lives up to its reputation?
Try to add some reason to this situation...the reputation your referring to is one glowing review with some stupendously strong claims and several other flattering reviews, one from a friend I very much respect...
Don't be taken in by the hype, keep your expectations reasonable for the price you're paying and it's unlikely you'll be disappointed. I haven't heard the M5E but I do have the T4 which was a great buy.
The S12 is bright, has planar speed, with good tech but I felt it was tonally flawed. I would expect a more natural tonality and timbre from the M5E but the technicals might be somewhere behind the planar. That's just a guess. I imagine @Leonarfd can help more.
Hisenior deserve success and it would be a great shame to see the flock of Headphone.com buyers come in here and complain it wasn't the HE-1 as liberally referred to in that review.