I'm pretty sure that there are better headsets for the xbox out there - but not at this price, and especially not if you get it on sale.
I had been using an earlier Turtle Beach headset - I think it was the X1, and this is am improvement in several ways from that model, and I only paid slightly more for it years later. (I paid $30 for the X1 about 4 years back, and $40 for the X12, both on sale)
Compared to the X1: significantly better audio with better range and less hiss, larger earcups (the smaller earcups of the X1 were a problem for me before, as I'm adult with a large head and large ears), nicer styling, more comfortable headband, pass-through audio so I can actually hear myself speak normally without unconsciously raising my voice, and the plug that goes into the controller is fully detachable and no longer has that ridiculous 'puck' that previously contained chat audio dial (it's now wit the other in-line controls). This last thing means one could use any 3.5mm male/male audio cable as a replacement without concern for losing volume control.
There are a few downsides:
One is that it doesn't seem to play nice with my Razer Onza tournament controller (wired) - as vibrations from the rumble seem to create a lot of unpleasant noise for my XBL friends.
Another, related thing is that the microphone seems to be hyper-sensitive, with no way to adjust it. I can turn down audio input, but not my output.
As with all Turtle Beach wired headsets (and most of the competition, AFAIK), there is a mess of wires that can't be avoided. This is not really the fault of any company but Microsoft, as they opted to not allow for a simple system like the Sony wireless stereo headset employs, or even Bluetooth or USB audio compatibility. There should be a way for chat audio to not be so dependent on being routed via the controllers, as it places a burden on the controllers that must be alleviated by a secondary power source when it comes to a larger stereo headset like this. I've long found it ironic that Sony makes superior hardware, but has horrible software design and a lousy social network (this software design issues has really hurt many major Japanese companies), while Xbox has the superior social networking (though you pay for it) but significantly inferior hardware IMO. There is no one console that does both well.