Good headphones on a budget?

Hi, I'm currently using a 2 year old pair of $30 (retail) Sony headphones. They sound like shiat when I listen to lossless and high bit-rate (320kbps) MP3's, which I'm assuming is from a not so good frequency response, right?

I did a quick google and the Grado 60s seem to be great at about $60. Are there any other standout headphones for less. I would also prefer something that could be suitable for the gym (not to bulky).

Thanks.