Sennheiser HD 465 Headphones

I got these for about £50 ($76) last month and my experience so far has been very good.
 
The headphones are comfortable and the sound quality is very good for the price. The bass is very punchy, but isn't without detail. The mids and highs are very clear and sharp. Being only 32 Ω you can use them as portable headphones with most portable media players without a bulky amp. My iPod Touch 2G drives these perfectly.
 
Now for the bad things. Though very comfortable the ear pads can become irritating after a while, as they begin to itch and can act like ear warmers. I also don't think they're particularly attractive though that's up to personal opinion.
 
In short a good set of headphones with great SQ for the price. They're not very heavy and they look anything but flimsy. If you have a tight budget I'm sure you'd be happy with these!