This looks nice, though I don't know about the quality. http://www.custom-cable.co.uk/black-sheep-b-and-w-p5-replacement-braided-lead-1.2-metre.html

Sorry for rewaking the thread, but the cable can be found for GBP 17 at http://www.custom-cable.co.uk/b-and-w-p5-replacement-1.2-metre-lead-including-mic.html which works out to USD 28.

I haven't decided on which 'phones to buy next and I am considering the K550:s. My thought on a possible good material to stuff the pads with is memory foam. Can be taken from a cheap pillow.   What do you guys think about that?