Ozone's Oxygen is very bass heavy and has a relatively uncolored midrange, which is good for gaming. The first impression with this in-ear headset makes it more than good enough for mobile gaming, but it would have a hard time competing with fully sized headsets for at-home gaming. The Oxygen is probably meant for people that use gaming laptops or tablets, making that a somewhat unfair comparison.
The achievable detail level of the Oxygen is generally good enough for most types of gaming. However, like all in-ears, the sound stage projection is severely lacking, and the sound is very left / right instead of spacial. Since sound engines can't be tweaked for in-ears, it is very hard to get them to perform as well as a standard headset. It does alright compared to other €30 headsets, and the step up to a fully sized €30 headset will probably be minor in terms of getting a proper gaming experience through 3D-like sound. The Ozone Oxygen is good enough for people on the go, but pretty much any €30 in-ear headset will do. We actually prefer the Oxygen's tonality and general performance over that of the Rage ST--except for issues with producing an enveloping sound stage. The Oxygen can compete with the Rosewill RHTS-11002 headphone that costs just about as much on everything but the soundstage.
Noise attenuation will get you about 20 dB with the Ozone Oxygen. Not amongst the most attenuating in-ears out there, the Oxygen is, in that respect, actually inferior to the recently vented HiFiMan designs.
The bass is quite well-behaved and extends nicely, having enough power to sound interesting with bass-intensive music; and it, unlike most lower-end headsets, doesn't add a lot of coloration to the midrange. You can get better midrange performance in the price range, but going with a single, balanced armature in-ear will leave you wanting the bass a dynamic design like that of the Oxygen can produce. Compared to a set of Sennheiser CX300s, it is too close to call, really depending on what design you want, but the Oxygen produces a more consistent bass performance. The treble is alright but sounds harsh; it is not over-proportioned compared to the rest of the spectrum, which is nice. This headset can definitely satisfy the bassheads out there when it comes to hip hop and R&B.