Headset recomendations

I need an inexpensive headset (with microphone) to do light gaming. I currently am playing COD4, AA3 and fallout 3.

I do not want USB as I have an X-Fi card. I may be willing to pay more for 5.1/7.1 but only if it is really worth the extra $$$.

I'm looking in the price range of about $50.

Thank you in advance.

i'm not sure of the prices where you live, but i like the Razor Piranha quite a bit.
then there's the Creative Fatal1ty headset.
i'm not sure if these fit into your budget, but then there's the Razer Carcharias for a bit more $$ where i live.
there are all 2.1 headsets.

I've used a Sennheiser PC-151 for several years now and would highly recommend it.

http://www.amazon.com/Sennheiser-PC151-Headset-Cancelling-Control/dp/B000NOR89Y

I would have to recommend Steel Series products; I’ve got several of their top end headsets and love each and every one of them.

http://www.steelseries.com/us/products/audio - Use that link to find a headset with a decent specification and then go on a hardware site which you know of and you’ll probably find it at a suitable price. I would have to tell you to steer clear of the Steel Series Siberia Neckband and the Steel Series 3H and 4H given that the Neckbands are incredibly uncomfortable and the 3/4H headsets are just too old