Replacing headset, would like some advice.
 

Stock on my bike is a 1 1/8" threadless cane creek vp-71, I would like to get something hopefully a little more compact so that I would have more length on the steerer tube of my fork for adjustments.

I see alot of different sorts of headsets and am unsure what would work for my bike. I am looking to spend around 50 or so. Thanks guys.

It looks like the headset you have now is not an integrated headset, and if that is the case, even without knowing your bike, I"m going to say it won't take an integrated headset.

That means that even if you were to go to a different brand, such as FSA or Cane Creek, the stack of the headset is going to be pretty much the same.

That said, I"m assuming based on your desire for a more compact headset, you want to get your bars lower. If that is the case, you are better off looking for a stem with a greater downward angle, such as -12 or -17 degrees. I beleive Ritchey makes stems in -17, and Specialized stems come with shims to get you -8, -12 or -16. You can probably find one of those on eBay in your price range.

i have an integrated FSA headset on one bike and an integrated richey on another. The FSA has a lower top cap so the stack is lower. The richey has a tall cone shaped top cap which is a good cm or more taller than the FSA which is very flat.