3.5mm to 2.5 mm stereo adapter wire

This is correct. Using the Xbox One Stereo Adapter (support.xbox.com/.../stereo-headset-adapter), you can use any of the following types of headsets:

◦A single 3.5-mm audio cable headset.

◦A dual 3.5-mm audio cable headset with 3.5-mm CTIA audio cables.

◦A headset with chat audio provided by a 3.5-mm audio cable and game audio provided by a separate cable with RCA or optical connectors. (Only chat audio will be enabled through the Stereo Headset Adapter. For RCA/optical connectors [game audio], follow the
manufacturer’s instructions to connect to the console.)

◦An Xbox 360 Wired Headset with a 2.5-mm audio cable. Connect to the Stereo Headset Adapter by using the 2.5-mm-to-3.5mm adapter that’s included with the Xbox One Stereo Headset Adapter.

As far as suggestions, that is a little harder for me to do. I am a huge gamer on console and PC and I strongly recommend Steelseries headsets, however, if you are an audiophile or use them for more multimedia related things, someone may be able to suggest
a better headset/headphones.

To answer your question yes, but please read the whole post: Turtle Beach said:

Please note that you will need to connect this headset to the stereo outputs from your TV or audio receiver for game audio and use the Kinect® for game chat with Xbox One.

www.turtlebeach.com/.../344

Microsoft says:

The following 3.5-mm audio headset types are supported:

A single 3.5-mm audio cable headset.

A dual 3.5-mm audio cable headset with 3.5-mm CTIA audio cables.

A headset with chat audio provided by a 3.5-mm audio cable and game audio provided by a separate cable with RCA or optical connectors. (Only chat audio will be enabled through the Stereo Headset Adapter. For RCA/optical connectors [game audio], follow the
manufacturer’s instructions to connect to the console.)

An Xbox 360 Wired Headset with a 2.5-mm audio cable. Connect to the Stereo Headset Adapter by using the 2.5-mm-to-3.5mm adapter that’s included with the Xbox One Stereo Headset Adapter.

See:
support.xbox.com/.../stereo-headset-adapter

You don't need the stereo adapter if you have the 3.5mm jack, and it wouldn't work with 360 headset anyway. You could probably find a 2.5 mm to 3.5 mm adapter, but I would suggest just getting a better headset with 3.5 mm. Those Xbox 360 headsets break like crazy, and buying a better heads up is probably cheaper in the long run

If you do not have the RCA out, the only way this would work is if the Headset uses the Optical Out of the ONE

To get in to details Turtle Beach Says: Please note that you will need to connect this headset to the stereo outputs from your TV or audio receiver for game audio and use the Kinect® for game chat with Xbox One.

www.turtlebeach.com/.../58

Microsoft Says:

The following 3.5-mm audio headset types are supported:

A single 3.5-mm audio cable headset.

A dual 3.5-mm audio cable headset with 3.5-mm CTIA audio cables.

A headset with chat audio provided by a 3.5-mm audio cable and game audio provided by a separate cable with RCA or optical connectors. (Only chat audio will be enabled through the Stereo Headset Adapter. For RCA/optical connectors [game audio], follow the
manufacturer’s instructions to connect to the console.)

An Xbox 360 Wired Headset with a 2.5-mm audio cable. Connect to the Stereo Headset Adapter by using the 2.5-mm-to-3.5mm adapter that’s included with the Xbox One Stereo Headset Adapter.

support.xbox.com/.../stereo-headset-adapter

You can pick one up in any electronics store like a Radio shack and so on.