Well I have had much more listening time with the RE262 and I am liking them more an more and at the same time I am also appreciating my RE1 also more and more !
Contradictory ? Well then letme explain, I listen to these IEMs on a train coming and going to work. When I go to work I am more alert and pay more attention to the music and the RE262 shines as its much more transparent than the RE1.
On my way back from work, I am dog tired and looking to relax. Over here the RE262 is a bit too revealing for my tastes and the slight sibilance I hear doesn't help. In this case I prefer the rounded smoother signature of the Re1s to the sharper presentation of the RE1s.
Another point is that I have tuned my amp purely for the RE1s and I have not had a chance to tune them for the RE262s. Maybe a retune will help make me appreciate the Re262s better.
I am also happy to have scored a new pair for 7.5k which was approximately what I paid for my RE1s 1.5 years back.

--- Updated Post - Automerged ---
Btw, ClieOS reviewed the e-Q5 and the RE262 comes on top !!!
Also someone compared the SM3 and the RE262 with an amp that I have little respect for (Pico Slim) and its not a toss up between the two.
REVIEW: Earsonic SM3 vs Hifiman RE-262 Comparison - Head-Fi.org Community