Reddit mentions of USB Desktop Microphone

US

UK

Logitech USB mic? http://www.amazon.co.uk/gp/product/B0000ATCOR/ref=oh_o00_s00_i00_details

Yeah I like it. Just, make sure what ever program you're using it with has echo reduction or the mic's well away from the speakers - it's really sensitive but really clear, the quality's great.

http://www.amazon.co.uk/Logitech-980186-0914-USB-Desktop-Microphone/dp/B0000ATCOR/ref=sr_1_1?ie=UTF8&qid=1333834587&sr=8-1

Aw man you get static with x11's? I get static with my x12's though to be honest it's not really that noticeable. Anyway I found a few cheap-ish mics on Amazon.
1: http://www.amazon.co.uk/Logitech-980186-0914-USB-Desktop-Microphone/dp/B0000ATCOR/ref=sr_1_1?ie=UTF8&qid=1334185094&sr=8-1
(whilst it's not a headset, I can vouch for the quality since I used it for a year)
2: http://www.amazon.co.uk/Plantronics-GameCom-Closed-Gaming-Headset/dp/B001E42QYE/ref=sr_1_2?ie=UTF8&qid=1334185153&sr=8-2
(not quite as cheap but it looks pretty decent)
3: http://www.amazon.co.uk/Microsoft-LifeChat-LX-3000-Headset-Black/dp/B000JSDOMO/ref=sr_1_5?ie=UTF8&qid=1334185153&sr=8-5
(If I remember correctly, this is what Syndicate used before he got his Blue Yeti mic)

I think the same thing about all gaming headsets.. Don't buy them and instead buy good headphones and a this usb mic.

I got a usb desktop microphone hooked to the console, which I also use for my PC. I don't remember using text chat, but I was pretty certain that voice chat did work.

I have the console hooked up to my main monitor, with a switch, changing from PC to console. So it wasn't that hard to wiggle my mic between the two, can also confirm that my mic worked for other games as well.

Pretty much anything Sennheiser will be good. I've got the HD555s which are only about £20 or so out of your budget.

Also for a cheap microphone, I'd recommend: http://www.amazon.co.uk/Logitech-980186-0914-USB-Desktop-Microphone/dp/B0000ATCOR/ref=cm_cr_pr_product_top

Not very expensive, and mine lasted a good 2-3 years.