I still think that no matter how good a headphone may be, they can't beat a good surround sound system. I just think surround sound system produces a more natural experience, which in turn gives you a better gaming experience. I think there's nothing better than firing a big machine gun or having bombs explode and really feeling the rumble of the subwoofer. Plus, it offers true surround sound, unlike headphones where the surround sound is simulated.
I think the only time i'll ever wear a headphone is when I need to keep it down. Other than that, I prefer playing through speakers.
with that said, can anyone suggest a good, budget pair of headphones?