Went into Merry Hill's Best Buy yesterday to get Halo Legendary edition and happened across the Turtle Beach Headphones (xbox specific) - these have an input for the controller's headset connection so you get full chat capability with dolby surround from the xbox.
Unit was priced at £149.99 (SKU 1000112778) but, as Aintree store is opening this weekend and it's one of their offers, other stores are also doing then at £99.99.
Can't find them anywhere online for less that £120 - I know that not everyone is near a Best Buy (we aren't, it was a forty mile round trip) but, if you want good surround but either a) don't have a 5.1 amp or b) get moaned at by the neighbours then this is quite a steal.
(One thing of note - it's wireless (which is great) but the base-unit relies on a TOSlink from a suitable source. If you're HDMI connected then the TV should have an optical out - if it doesn't then you'll have to do away with HDMI and go back to composite connections so you can use the optical out on the xbox360 lead instead - as I had to with the 19" LCD).
Enjoy - and please don't flame me too much, it's my first post!
(Images of original £149.99 label and receipt to follow - thanks whoever added the original headphones image - appreciated)