For fans of V-Moda, there is now the Vibe II:
http://www.v-moda.com/headphones/vibeii.aspx
I saw it at the Apple Store for $120.
I already have the Vibe Duo, so unfortunately I can't justify picking these up.
Sure, they're overpriced. But, I think they look cool. What I like most about it is that it comes with earhooks to keep your headphones in place especially when you're exercising. I wish I could just buy the earhooks separately.
For those worried that the iPhone is no longer a luxury product can go ahead and pick these up.