Personally I'm rocking a Focusrite Scarlett 2i4 but you can do better than that for that budget. I'm quite pleased with it myself but I wish I'd have gone for the 8i6 instead because of the extra inputs. Right now I have my Senn HD600 plugged straight into it but I wouldn't recommend it, it doesn't sound as good as from my Objective2 (though you'd expect that). I've only got it plugged into the sound card because the new cable I got for it terminates to a 1/4 inch jack and I haven't got the right cables right now to change that right now.
The sound quality is good, I didn't notice a considerable difference between it and my FiiO E17 which it replaced, although the E17 probably sounds a tiny bit better (but if you look at the prices, that makes sense) but it wasn't big enough of a jump to bother me at all.
Latency is pretty good, I find it barely noticable. It does have a nice feature where you can listen to your input signal directly with 0 latency though.
All in all, I do recommend it but it's a bit below your budget, so you can probably get something nicer.
Edited by imdos - 11/20/13 at 12:32am