I agree, they are fairly overpriced compared to other brands and not that great either.
I own well over 20 pairs of headphones, not sure why or how i've accumulated so many pairs, i guess i've become a little obsessed. I admit i had once owen a pair of Dr. Dre Studios, when they first came out, but i didn't really like the style of sound they produced. I've got many other supposedly high end headphones/earphones/in ear you name it all, for different purposes. When listening to Music at Home i use Grado SR-225's, which sound pretty damn good actually, although i personally think they could use a little extra bassweight to even out the bright mids and highs. For general listening to iPhone iPad etc i use the B&W P5's and they really sound great, and the build quality really helps justify the £250 asking price. For in ear phones i have a pair of Sennheiser IE8's, which to be honest have never really liked since the day i got them, compared to the other earphones i own they just sound dull and lifeless. I did own the Shure SE530's for a short while but i couldn't get on with the ear tips, now you can get the Comply Comfy tips i wish i'd kept them..oh well you live and learn.
However for those who don't have such a high budget for headphones, i have two recommendations which i also own, these are: iGrado's, i use these at work, they really are impressive headphones, they aren't the most comfy headphones around and they leak a lot of sound, BUT the sound they produce is phenominal for such a low price. you can pick them up for circa £35.
My other recommendation for people on an ever lower budget are the JVC Marshmellow headphones. I use these when commuting as they manage to block out a lot of exterior/ambient noise. I was so impressed with these as they have a nice balanced and fairly lively sound. Admittedly you aren't going to get amazing sound quality and not going to hear every single piece of detail on all your music but for less than £15 they really do some magical stuff. I much prefer the sound of these than my Sennheiser IE8's...so thats saying something.
Another suggestion is that there are mods you can do to the iGrado's and JVC marshmellow headphones to make them sound even better without spending any money. If you google headphone mods, you should be able to find this. If anyone is interested i can find the page for you.
My last recommendation is make use of the feature built in to the latest apple headphone cables and that is to do the iPhone headphone cable mod. I have modded both the iGrados and JVC marshmellow's to use the iPhone 4 headphone cable with built in Mic and ipod remote functionality. The cables that are supplied with the Apple headphones are perfectly fine, the actual earbuds themselves are what lets the sound down.
Anyway i've waffled on enough about headphones, as you can tell i am a little obsessed but if your like me you realise that you don't have to spend a small fortune to get decent sound quality.