That looks sick, actually.

A lot of "say thanks" going on, but if "he won't be around forever", and you don't actually want the headset (personally, I'd still try it out and keep it around for playing on Xbox or whatever) then it would be infinitely better if you said, "Thanks, but there's actually a different headphone that I wanted - could you return this one and help me start a savings account? We could both get nice headphones, and you could show me some albums you used to be into, have a sort of listening party."