I just did a quick test with the LTE vs my Cowon D3. I didn't think beats was even good until I found the sound enhancer menu where you can select the type of headphones. Once I selected UrBeats there was a major difference in the sound for the better, imo. I don't own any beats products, fyi.
It still wasn't as good as my dedicated pmp with any BBE effect applied, or without for that matter. However, using Beats seemed to be an improvement over the stock sound and my previous EVO phones, the 4G and 3D.