I play competitive gaming so I need a headset that offers great sound quality, a good microphone, is comfortable for longish sessions, and is preferably easily portable. With the 5H V2, Steelseries have managed to tick all four boxes.
Sound Quality- I have had two proper headsets before this one, the Creative Fatality and the Ideazon Banshee. The 5H V2 easily blows the other two out of the water for sound quality, it produces crisp clean sound all the way up to full volume, and is surprisingly bassy. In game, I find I can hear much further than with the other headsets, and it is much easier to pin-point the direction of a sound.
Microphone Quality- In this category the 5H again pulls away from the others. Featuring a retractable, flexible microphone, its very easy to get the Mic sitting right where you need it, and when you don't need it, it simply slides back into the headset neatly. Quality wise, it is fairly clear, certainly its fine for VOIP like Skype or Ventrilo, although at full volume there are some problems where it will pick up sounds from the headset. However, this is only a slight niggle and you get this problem with most headsets anyway.
Comfort- The 5H V2 is simply the comfiest headset I've owned or tried. There are a couple of reasons for this- it is quite light, it is well cushioned, and the cups fit completely over your ears, surrounding them rather than resting on them. This also improves sound quality, and blocks out much more external noise than the standard design.
Portability- Taking a headset with you is always a pain, they are forever snagging, they take up too much room, and there is always a risk they could get damaged if you cram them in. The 5H V2 doesn't really have that problem because it splits into three parts. Both Ear Cups detach from the bridge, making the headset much more compact, and reducing any chance for it to get damaged in transit.
Problems- I haven't really had much trouble with the 5H V2 after about a year of regular use. The only fault I can note is that the volume control seems to have a loose connection, as sometimes when adjusting the volume, sound will completely cut out from one ear. This is only temporary and is easily resolved by adjusting the volume again.
Final Thoughts- The 5H V2 is a solid headset, perfect for gaming or even just listening to music, it is good for long stretches thanks to a very comfy design and is easily portable. All in all, a great choice if you are willing to pay for it.