So I took the plunge (finally). I purchased the Bose QC 20 Noise-Cancelling Earbuds. I am glad I did (even though they are $300).
Fit: They are VERY comfortable. The actual ear piece is comes in 3 different sizes (all included) so you can choose which size fits your ear best and provides the best noise cancelling benefit. They actual ear piece is a bit large but the fit, oh my, is very good.
Sound/Noise-Cancelling: Sound is very Bose-like (which I like). Do not purchase these if you need something to drown out all external noise. These will not. They are best used to lessen persistent background noise like the sound of a plane. This works just fine for me. You still will be able to hear some noise and talking but your sound you receive through the earbuds basically is boosted so most external noise is just not a distraction. Bonus: if your rechargeable battery runs out (rated for 16 hours of use), you can still use the earbuds without the noise-cancelling feature active.
Functionality: I think the cord and noise-cancelling part of the device (a thin rectangle that is close to the device plug) is not hard to deal with. While it would be great if that part of the cord was not necessary, it is not currently not possible to have noise-cancelling earbuds without such a part.
Case: The traveling case is a really nice canvas zipper pouch. I really like that the earbuds come with one. In my Polk Audio and Harmon Kardon days, those earbuds came with less functional carrying cases in my opinion.
Bottom line: If you fly a lot and need a light weight, easy to travel with (and don't want the bulk of over-the-ear headphones, I suggest you get the Bose QC 20 Earbuds.