Not sure what the M in PX5M is, but I've had the PX5 since it debuted and love it. I don't get any of the popping or hissing people have mentioned, and the bass sounds decent if you mess with the settings a bit (but I've never used other higher-end headsets for comparison). It's hooked up through my home theater so I can watch TV with it, play xbox and chat with it, or just use it as a bluetooth headset for my phone. It's great! It'll even let you take a call via bluetooth while playing a game with a touch of a button.
It is "virtual" surround sound, rather than dedicated front and back drivers, but it works really, really well. In a game, you can definitely tell exactly where a noise is coming from in your surroundings.
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