Most games dont have multi channel audio… but use software to create the sound environment so true surround doesnt get used to its full ability, and often can lead to a negative sound experience. stereo headsets on the other hand create the surround scape as the devs intend… I once paid out for a true 7.1 headset thinking it would enhance my gaming experience… cost me over £200, with movies it was crazy accurate, I remember watching Saving Private Ryan and physically dodging the sound of bullets… but i found games to quite often have issues making it difficult to identify front and rear sounds, left and right was ok… but the same game with stereo headset the front and rear became more defined somehow… later i came to understand it was down to the software coding.
Check out Musicolet. You can have upto a 31 band eq, quite customizable by dialing in your own frequencies if you need to.