Eyes open or closed?

Closed WITH GLASSES OFF for the best imaging.

Rainbow rising?

It depends on who I'm with and what I think they'll look like in the morning. 

It depends.....

Usually, eyes opened in a lighted, or sometimes, a dimmed, but not dark room. 

For me, the image and soundstage on my system, is so well defined, closing my eyes does not help enhance the illusion at all. 

+1 @gdaddy1 

When your system throws great images, no point is not watching them dance in front of you. That is the actual fun!

Eyes opened (reading) for a while before going into sleep mode...

Closed.  Every time. Easier to lose the speakers and become immersed in the soundstage. Everything sounds better with eyes closed, and it costs nothing.

I generally listen with my eyes closed.  @cleeds exception noted.  I like to daydream when listening to music.  OK, sometimes I nod off, but generally speaking, If I'm sitting listening to music with my eyes open, I get distracted from the music.  It's much easier to slow my mind down and get immersed in the music with my eyes closed.  

Open, and with good imaging I can see the performers. Especially with a black background.

Closed eyes I'd be asleep in no time. 

Depends. They're always open when I'm driving, for example.