Equalizer will kill the sound! HD 202II has the best sound in that segment.
The settling of drivers will sure help distinguish between different frequencies but it wont contribute to much
increase in the bass (as in it wont punch a thud and there wont be much of a change in the amplitude), it ll just make the low notes
warmer and controlled. That's just my experience of burn in - yours might differ. In-fact, some audiophiles even argue that the burn in is more of a virtual concept.
Bass strained Equalizer will reduce the mid range clarity however bass heads like OP seem to least care about that.
In India, you have to settle for HD202 II in that price range. Just hope in days to come, some good IEM/HP manufacturers find their way to India.