Headphones. For sure. Bluetooth. With mic. Noise cancelling. Bliss.
There's no reason to force my noise on the world.

I have both, I like headsets for most of the time, but I also have my system pipped thru BOSE speakers. So I love to just to crank it loud just because I can.  

Headsets probably. Audiophile gear is pretty damn expensive though

Even though I use speakers 95% of the time , I actually prefer the audio from my headsets...
 It's just that wearing headphones & glasses causes side-headache/ pressure enough to bother me for extended periods of gaming...so I end up using speakers.
5.1  setup 

I can not stand wearing anything on my head and have a few gaming rigs with different sets of speakers.
5.1 Logitech setup on two
and a semi- "audiofool" setup on another rig that I use for guitar etc recording with Alesis monitors and a Line6 UX2.
Only paid $32 on ebay for the UX2 and the monitors I got on sale for $179 (current price $129).
I have to say that the latter setup is by far superior. The sounds from two monitors are so precise you can easily 
spin on a dime and fire quick without needing to look around.
One note I should add is that I did add acoustic insulation in the walls and my neighbors are an easy 600'+ away but I usually game at about 15-25% volume on these.
https://www.altomusic.com/alesis-elevate-5-mkii-5-powered-studio-monitors
 https://www.amazon.com/Line-6-POD-Studio-UX2/dp/B001EKECC2
 

 
https://www.szynalski.com/tone-generator/

my oppinion would be good sounding bookshelf speakers, i myself am saving for a pair of Focus 20 XD, i heard those peakers and i never heard anything like that before,

I desire both. There are different situations in which I want headphones, and loudspeakers. I generally don't like wearing headphones for long periods of time.

STR1D3R_2
 
https://www.szynalski.com/tone-generator/

It's a very good thing my neighbors don't have dogs.  Played with that entirely too long, now my ears are ringing. Way cool to test the frequency response range on my speakers, I should've done that sooner.
 
I prefer speakers only. Saves my ears from the millions of people in multiplayer that never bothered to set up their mics properly, or don't even realize they're broadcasting. When my 5.1 Logitech system kicked the bucket I got a simple 2.0 studio monitor setup. Even without a dedicated sub they give better base and cleaner sound than the old logitech 5.1 could ever make. It'd take really good headphones to touch them and no headphones last long enough to be worth that sort of cost.

melturface

ty_ger07

castrator86
Headset, way better gaming experience. Buy a nice set with deep lows/bass around the 10Hz level.

Humans can't hear 10 Hz.  That's called infrasound.

Yea and 1" headset speakers are crap at reproducing low frequencies. Good or Great gaming headsets can make or break a game. It is way easier to hear subtle sounds from a speaker next to your ear while being blocked off from everything else then to hear it from speakers 3 feet away.
 
That's why pros use great headsets! Ones with multiple different size speakers in each one.

I am pro headset, as I said in post #2 above.  I hope you aren't preaching to me.

When I am gaming with friends in coop missions where we communicate, headphones for sure. When its just me, I will not hesitate to hook up to my big screen and surround. Feeling the sound and better separation adds to the experience.

i rather have speakers , because headsets can get uncomfortable , but if you have picky neighbors there might be no other option 

ty_ger07
In general, audiophile gear is pretty damn foolish;  speakers, cables, or headphones.  It's not necessary to discuss audiofool stuff in this conversation.

That's a pretty archaic perspective Mr. Neanderthal... especially coming from someone who is a gamer/multimedia person. 
 
I've had speakers and headphones...I've found recently that I'm spending much more time with headphones so I can pipe in Netflix then adjust levels accordingly to hear voices etc. Then again, I also have B&W speakers, being driven by a Sumo amp and a DAC in my rig...trust me there's a huge difference in sound quality between a garbage SoundBlaster/Realtec, and a real DAC and audio config. Unfortunately you'll get the bitter Bettys like the tool above who can't/won't afford the sound portion of the gaming experience.
 
I was looking for a crossover headset that had 5.1 surround for gaming purposes but hi-fi for my discerning audio tastes, and I found the Steelseries Arctis Pro to hit the sweet spot perfectly. They're a little on the pricey side, but they've been worth it! Get the Pro series with the DAC (its not the best DAC in the world, but it works some magic for a cheap pair of headphones), even when switching between the DAC hi-fi, and straight throughput on this basic pair of headphones, I can tell a big difference. Trust me your ears will be in for a treat!
 
https://steelseries.com/g...ro-gamedac  
 
PS. I do "somewhat" agree with Mr. Tools comments about cables though, then again there's ohmes/resistance and other factors that also play a role depending upon how long the "run" and the type of environment you're dealing with.

There's a "reasonable" cap to headsets. You can get a really good pair for a few hundred dollars but speakers can cost as much as you want to throw money at it.