Not completely false on the surround sound part, I have a Razer Barracuda and love it. If you are big on FPS games, you can hear footsteps, gun fire, or whatever all around you and can pinpoint those with a good gaming headset vs. left or right.
I had a $20 headset that worked just as well though, but the mic didn't work, and I wanted a little better quality. That's the only reason I dished out the money for a Razer. I would suggest staying in the $20-$60 range, unless you have the money for it. Audio on music, movies, and games other than FPS doesn't really make a huge difference.
And even with FPS, I wouldn't even recommend dishing out that much money unless you play competitively and are serious about a certain game.