Actually, your audigy does have a headphone jack, labeled "line out". IME
these jacks are capable of driving a typical pair of headphones. Try it
and
see. If it works for you, get a splitter.

Either way, I'm looking to spend at most
$200-$250 and sound quality is my number one concern. Are there any
devices that meet my criteria?

I recently tested a headphone amplifier that sounds good and measures
quite
well. You can find the technical report at
http://www.pcavtech.com/pwramp/boostaroo/ .

Mr. Kruger, in your opinion how would this piece compare to say, a Grado
RA-1 headphone amp?

~Original Poster