I can tell you I did the same thing, and DJWheat gave this convoluted description of his setup. I didn't get anything from it. So I bought a Blue Yeti. I think it's easy to use and sounds pretty good. It was $100 even. http://www.bluemic.com/yeti/ I told DJWheat about it and he said he used to use that and liked it. I think for casting and streaming, you're not going to get much value going >$100.
hahahaha! It's totally an ego thing. ;D Getting a really nice headset and good computer is the easiest way to deal with everything, Geoff. He has a really complicated setup with an excellent final result, but he has been doing this for a long time and does a lot of research on everything. If you're looking to do it long term, definitely seek his help on the matter. I baffled everyone in TSN back in the days, especially Marcus when I used a 15 dollar compaq stick mic with a paper towel on it that sounded fantastic. >_<