for that kind of money i would suggest a good pair of headphones, a soundcard and a modmic.
while from what i've heard its not terrible compared to other multi-driver headsets (and its one of the only 7.1 multi driver models) its not going to hold up to a good pair of headphones as far as quality is concerned. also, it should be noted that multi-driver surround headsets arent a seamless experience as you can generally tell when the individual drivers fire when sound encircle you. i think virtual surround (or just using wide soundstage headphones without any virtual surround) would be a bit more seamless.
ultimately up to you what route you want to go and what you like.
for the record, i dont own a pair.