Both are virtual(simulated surround) even though the Razers are pretty ugly for gaming will do ok. I prefer analog, discrete surround.
The Razer's have 50mm drivers(better for music) compared to the AZIO's 40mm drivers. Having never heard either, I would take the Razers.
Computer gaming doesn't take high end headphones/speakers to make them effective, you want the positional audio but if you are using them for other things like music, then it is better to get a better headset.