My old one worked fine while I was playing LOTRO early on. However, during a brief Galaxies Emu period where there were Talking Peeps, it worked mostly not at all. Either I could hear others and they couldn't hear me or vice versa. So frustrating.
Now I'm hoping to play LOTRO again, and unless something has changed, groups almost always prefer voice for coordination.
And...if WOW does add voice, I'll be dungeon chatting for sure. (Insert winking smiley face).