FOLLOW-UP:
In the end, here's what I did for my PS4 setup:
Headphones:
1. Schiit Magni 2 Headphone Amplifier:
http://www.amazon.com/Schiit-SCH-0702-Magni-Headphone-Amplifier/dp/B00SCBKPW2
2. Astro Mixamp Pro TR for PS4:
http://www.amazon.com/MixAmp-Pro-TR-PS4-Black/dp/B014H2W1YO/
3. RCA to 3.5mm splitter:
http://www.amazon.com/BlueRigger-3-5mm-Stereo-Audio-Cable/dp/B008UG6GCC/
4a. AKG K702 Headphones:
http://www.amazon.com/AKG-Pro-Audio-K702-Headphones/dp/B001RCD2DW/
4b. Superlux HD688B Headphones for good measure:
http://www.amazon.com/Superlux-HD668B-Dynamic-Semi-Open-Headphones/dp/B003JOETX8/
I've read so many great things about the Superlux HD688B's that I had to score a pair on top of my AKG's. I absolutely prefer the AKG's for gaming, but for music and movies the Superlux's are incredible. For $40, they're worth every damn penny. I did 80 hours of break in with Youtube videos on full volume. Before the break-in they were incredibly tinny, but now sound beautiful. The AKG's are the best headphones I've ever had the pleasure to listen to, and I've tested quite a few. I play a lot of Call of Duty, and they just can't be beat. The Q701's are also amazing, but they're a bit bassier and more for music than anything else. The K702's are much better for Call of Duty games and the like.
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Microphone:
1. Behringer Xenyx 802 Microphone Mixer:
http://www.amazon.com/Behringer-802-Premium-8-Input-Preamps/dp/B000J5XS3C/
2. Sendt XLR Male/Female 24 AWG Cable:
http://www.amazon.com/Sendt-Foot-Female-Microphone-cable/dp/B008B2AA1I/
3. Ugreen 3.5mm TRS/4.5mm TS Mono Splitter Cable:
http://www.amazon.com/Y-Cable-Splitter-Computer-Multimedia-Speakers/dp/B00ZKM3S4S/
4a. Behringer C-3 Microphone:
http://www.amazon.com/Behringer-C-3-BEHRINGER/dp/B000KUA8EI/
4b. If you really want quality, go for the Audio-Technica AT2020 Microphone for $40 more:
http://www.amazon.com/Audio-Technica-AT2020-Cardioid-Condenser-Microphone/dp/B0006H92QK/
The microphone setup has been a hassle. Phantom power alone is not a workable solution for activating these microphones sufficiently for the Astro Mixamp on console gaming platforms. I tried, and it didn't work. Initially I attempted to power the microphone with a Behringer PS400 phantom power supply. It didn't come close to meeting the impedence of the microphone, and the signal to the Astro Mixamp was distorted and no one could understand me. I wanted a standalone microphone, not a clip-on boom microphone, so I could have it sit on my desk and never have to mess with it.
There may be cheaper options for the Mic Mixer, but this one is beautiful and does everything I need it to do. The sound is crisp and clear for my party members. It actually does a relatively good job at drowning out noise, but it'll pick up a lot more than a standard headset mic would so be careful if you go this route.
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Note 1: Make sure you grab some good quality foam microphone windshields to drown out ambient sounds from A/C, fans, drafts, etc.
Note 2: If you snag a pair of the Superlux's, make sure to grab some replacement ear covers because the covers they come stock with are pretty worthless. I grabbed these:
http://www.amazon.com/dp/B00KLPRQMO/
This isn't a cheap setup, but I love it and it's mine and it works amazingly.
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There is no doubt this setup would never have come into fruition if not for the help of all of you audiophile know-it-alls. Thank you so much, this forum is ****ing amazing!