I've had the pleasure of testing the Pulse before and after it was out in the market.
To be quite honest, for $150 (it's $130 now)... it is going to be tough to find a better WIRELESS headset around for the PS3 (or the PC too in fact).
Now, the Pulse isn't geared towards competitive gaming because it is... all things considered, a closed headphone.
While the soundstage is pretty good for being closed, the VSS tech that Sony has in them just isn't that good. It's hard to notice where a source is coming from.
The VSS in the Pulse is definitely not Dolby Headphones or CMSS 3D, I know because I have soundcards on the PC which does do them and I've had experience with both virtual surround sound tech for a good long while (4+ years now).
However, for the general purpose of actually enjoying games, the Pulse impresses very well. The BassImpact is a gimmick by all means, but set it to a subtle 3rd or 4th notch and it is actually pretty fun to have. Just don't have it all the way beyond the 6th or 7th notch as then the vibrator motors gets too loud that you could actually HEAR them.
Actual bass on the headset is on the low side though, but I love how the mids and highs are on the Pulse. Clear and defined.
There is a trick to get more bass if you a glorified portable amp (I'm saying glorified, because I mean products like the TB DSS or Astro Mixamp). Because the USB receiver has a 3.5mm jack on it, you simply just need to supply it with power from a USB source then connect the amp to the USB receiver with a 3.5mm cable. Increase the bass on the amp, and MORE bass instantly!
One issue however is I think Sony lied on the impedence that the Pulse are rated for. For me personally, it just isn't loud enough. Perhaps it is not to kill the already subpar-battery it has, but connecting the Pulse to a cheap amp pretty much brings them to a whole new level that you'd be baffled by for paying $150. Not kidding.
The last other issue is the STUPID 2-piece headband Sony went with the Pulse. It's ridiculous.
The one piece design on the 1st gen wireless headset was fine and comfy, but because they had to go with this new style... the headband is uncomfortable for me, annoying in fact.
So that's about games, what about music then?
I'm very much a ballad, kpop, rock, metal, and general otaku styled music listener (I know... jeez). I'm actually impressed with how well the Pulse sounded, if Sony were to sell the Pulse as headphones... I wouldn't complain at all. It's GOOD! Vocals are so important in ballad, and the Pulse trounces in them due to its balanced mids and highs. Bass is as I mentioned a little bit on the low side, but plug it into an amp... it would actually run its money with a M50.
For PC users, if you are decided to use this... use it in wired mode (the Pulse features a 3.5mm jack) into an amp or at least a soundcard with an amp. Then enable DH or CMSS 3D for your VSS needs. $150 (or rather, $130 now) isn't a bad deal really.