Thanks for the tips - I'm definitely getting a lot of distortion when I turn up the bass or turn down the impedance of the phones (turn the volume pot in the headphones to max). The distortion is very unpleasant, it sounds like a bass played through a cheap fuzz box.
I've tried the amp with my old Sennheiser headphones which have 600ohms and I also get distortion when I turn up the bass. The volume level seems about the same as with the 40ohm phones which is a bit confusing to me. Maybe I'm already current limited with the higher impedance.
So far I haven't had the scope and the bass in the same room (one is at work, one at home) so I can't really tell what's going on but headphone impedance isn't the only thing.
By the way, I'm a total beginner on the bass so I'm sure I won't have "appropriate source material" for quite a while yet.
Cheers, Andrew