Well, I can tell you now, that you won't regret buying the Ax 720 (which I upgraded to from the Turtle Beach).
The Dolby Pro-logic surround sound reproduction is stellar...its all digital, so you must have an optical (TOSlink)
outut from your PC to really realise its full potential. It can also directly connect to the PS3 and Xbox 360.
I currently have all three connected via a
TOSlink switcher. Rather convenient, as I can switch sound sources on the fly,
and the included receiver instantly picks up the signal and there's your sound.
The mic is separate and independent of the game sound. There's even an in-line control module that you can use to
vary the game sound and chat sound separately. There's also a port on it to connect your Xbox 360 controller,
and that cable is also included. So right there's your Xbox Live chat.
Best headset money I ever spent.