Thoughts
I have the M-Audio IE10's. For about $89.00 you can't beat them. I would be careful about hearing loss, but let me say this: after monitoring with headphones (closed back) doing guitar overdubs, bass and drum tracks, I will honestly say that I think the in ear monitors are much better. I had to blast the phones to hear anything, and with the leakage from amps and drums, it was hard to hear the source material (phones). My ears would hurt from the phones having to be so loud. I popped the M-Audio's in one day, and the source volume was much lower with very little room noise leaking in. I could actually hear both sources through them, instead of the guitar, drums or bass overpowering the headphones.
I say try them and see how you like them. I know I will track with them instead of phones.