When I moved overseas, I knew I wanted a decent headset in order to make internet telephone calls back home. I decided to go with the Logitech stereo headphones.
These headphones are padded, which helps, since I wear glasses. They are fully adjustable, though I've found that, with my glasses on, the headphones really start to pinch after about a half an hour.
The microphone is fairly sensative - while I would not use this headset for recording music or any high quality audio data, for internet telephony it is more than sufficient. The microphone rotates, so if you want to use the headset for simple headphone use, the mic does not get in your way.
Additionally, there is a handy volume control on the (extremely long) cord, so you can make additional sound adjustments without adjusting your computer's sound volume. There is also a mic on/off switch
I've travelled quite a bit with these headphones in tow. While they do not pack the most succintly, they have held up quite well to abuse and continue to work. A nice value for the price.