Turtle Beach Ear Force PX5 Programmable Wireless Headset for $149.99 + free shipping
The PX5 is the most technologically-advanced headset ever designed for PS3 and XBOX 360 gaming, incorporating a programmable digital signal processor to allow independent customization of the chat, game and microphone signals. Custom presets stored in the headset can be selected during specific parts of the game to emphasize sounds like footsteps or reloads that might otherwise be difficult to hear. It can even be programmed to disguise your voice or to enhance the voices of online players so you can hear them more clearly during intense parts of the game.
I also posted the wireless adapter for the xbox. i have this headset and it is awesome. Just got the adapter yesterday and works great. I couldn't imagine not having it. i can hear everything around me in the direction they are coming. This is a great price. You'll kick yourself if you don't buy this.
Save a couple of bucks - same unit spec-wise) as bundle (XP500= PX5+BT adapter) from TB at BB is $169.99
About $6 cheaper and available for local pickup at many locations:
@dhillinmkewi: Not sure if the xp500 works with the PS3 like the px5's do.
@batboy746: It does work with both.

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