If you pick up this, you can buy a moderately-priced PC headset that is much better quality than any specifically-Xbox headset.

As (rudely) recommended below, the Steel Series Siberias are quite nice.

Enjoy!

EDIT: I just noticed that 1Sale-A-Day has a decent Xbox headset on sale for $28 (requires sign in, check the SlickDeals page before signing up). You can check out the SlickDeals page for some opinions and specs on it too.