Ditch the cord and the cheesy headset.....
http://gaming.hexus.net/content/item.php?item=6564
I used something similar with my original XBox and have missed it. PTT buttons on the rear, ... the sound may take a little bit of a hit with the speakerphone esque mic being a few feet away from your mouth, but you won't have to lose the surround sound capabilities of your system anymore (since a chintzy walkman reject mono headphone doesn't cover your right ear anymore) as some Australian 12 year old curses at you as you run him off the road in Burnout Revenge....
http://gaming.hexus.net/content/item.php?item=6564
I used something similar with my original XBox and have missed it. PTT buttons on the rear, ... the sound may take a little bit of a hit with the speakerphone esque mic being a few feet away from your mouth, but you won't have to lose the surround sound capabilities of your system anymore (since a chintzy walkman reject mono headphone doesn't cover your right ear anymore) as some Australian 12 year old curses at you as you run him off the road in Burnout Revenge....