SteelSeries 51103 Siberia V2 USB Headset (Black) - Reviews
Pros: Bass response, comfort, noise cancellation
Cons: sweaty ear muffs after a few hours
This is a GAMING HEADSET review.  It is NOT a headphone review.  The website has this in the WRONG category, and I have contacted the webmaster.  The rating is based on price/performance of this GAMING HEADSET.
The SteelSeries V2 hasn't changed in about 4 years because the design is almost perfect.  The headset provides good Bass response with 50mm speaker drivers.  The old-fashioned design with a suspended canopy conforms perfectly to your head.  What you give up in style, you get 10x over in higher quality sound (no 40mm headsets can compete).  The retractable noise-cancelling mic works great.  I read about 40x reviews of this headset before deciding to purchase one for xmas.  I have had almost NO chance to use it since purchase, because my kids are using this headset 24/7.  I also got the 3D sound card but for most purposes, I don't use it.  The most common complaint in the 40x reviews I read, was that either the mic would break, or the electrical cable would short.  This wasn't very common.   This headset of offered in 6 colors but the black ones are sold at the lowest price and in the highest numbers.  If you look at the sales rank on Amazon, almost every SteelSeries V2 Siberia COLOR is listed in the top-20, which makes this a top-3 seller on Amazon, almost certainly.
My point of comparison is the Turtle Beach X22 headset with integrated amp, playing PC Games and listening to a Nexus 5 Cellphone.  Compared to that headset, this one has advantages of
(a) More Bass,
(b) Retractable mic,
(c) Noise cancellation,
(d) Soft old-fashioned canopy for increased comfort.  
The disadvantages are,
(a) Vinyl ear muffs (can cause sweating),
(b) The mixer (w/o tone controls) doesn't allow game sounds and phone sounds to be mixed at the same time
(c) Not as much room isolation as the Turtle X-22, the ear muffs are actually pretty porous.
When your kids play games they often want to chat with friends over the phone at the same time.  So the features of the Turtle Beach product are pretty crucial.  In general, I am happy with both products.  If I wanted good headphones for general usage (no equalizer), I would definitely get the SteelSeries V2 Sibera.  If I wanted good headphones for chatting and gameplay and isolation i a noisy room, then I'd get the Turtle Beach.  However if it were a really noisy room (i.e. Gaming Convention), I might get the SteelSeries V2 for the noise-cancelling microphone.  If these features didn't matter, I'd probably choose on price and the Turtle Beach X22 on sale is roughly the same price or sometimes $10 cheaper than the SteelSeries V2 Sibera.
IMO the turtle beach sound terrible (all of them)
What console are you using this with?