BigW have dropped their RRP of this awesome headset. Cheapest on StaticIce is $33 + Delivery.
Specs from website:
Summary
The Ear Force XLC is the ideal headset for cost-conscious gamers who want to enjoy improved game sound with their XBOX 360.
Unlike basic communicator headsets that only let you hear XBOX LIVE chat in one ear, the XLC combines high-quality stereo game audio with XBOX LIVE chat, eliminating the need for the mono communicator and external speakers.
The unique noise-reduction ear cushions help block out distractions, so you can concentrate on the game, enjoy the full impact of the stereo sound from your XBOX 360 and become a better player.
A good little headset for those with a budget.
I definitely give the nod to my Turtlebeach PX5's though. Pricey, but you get what you pay for.