I just got a new pair of headphones, the Sony MDR-7506. I'd been using a pair from Sennheiser, the HD201, for about the last four years. They served me well, and they were well worth the $20 I spent on them, but it was time to move on.
I've been trying out the Sonys at work (all of the radio folks seem to have a pair), so I knew I'd be happy with the sound quality, build quality, and comfort. If you've never tried them on before, it's like having someone hold two little pillows against your ear. And while I can't say that I have refined taste when it comes to sound equipment, the sound quality is crystal clear and a pleasure to listen to. There are plenty of songs that I'm going back and listening to again because they sound so much better through these phones. Finally, check out the case they came in. It's looks like a little casket for your headphones. And it even included a schematic in case you want to try to repair them and a pleather carrying case.