Quick overview:
Under $10: Koss KSC35 or KSC75
Under $40: Koss Portapro
Under $70: Grado SR-60
Under $100: Grado SR-80 or Alessandro (Grado) MS-1 (I have these)
I must say, the only pair of headphones I would recommend are Sony Fontopia ones. They are relatively noise-canceling, very comfortable, good bass, extraordinary sound, and much more. They can be had for $30 from Amazon and $50 elsewhere.