The folks posting in this thread aren't wrong, but neither is your friend. Reality is somewhat more complicated.
If you compare a high-end PCI interface from ten or fifteen years ago (e.g. Apogee), you'd have a hard time hearing a difference when comparing it with decent quality gear today. Unfortunately, nobody could afford those rigs, so there aren't a lot of them out there on the used market. Thus, most people compare relatively low-end gear from ten years ago with relatively low-end gear from today. When you do that, your friend is absolutely right.
The quality of better components hasn't really improved a lot in the past fifteen years, but the
cost of better components has dropped dramatically. Electronic hardware design is about striking a balance between quality and component cost in order to hit a particular price point. Because the manufacturers can now get better parts at the same price point, low-end designs today often sound as good as higher-end hardware from just a few years ago. Most of those differences are not the converters, but rather the outboard analog components—capacitors in the signal path, FETs and op amps, etc.
Having personally compared the 1010LT to the FW1814, Presonus FIREPOD, etc., the difference in conversion quality is audible even with an untreated room, cheap mics, and junk pres. The 1010LT's A/D conversion is okay. The D/A conversion is terrible. That's not
because it's PCI, but because it's very old low-end gear. Similarly, it uses PCI because it is an old design.
I'm as guilty as your friend when it comes to overgeneralizing and recommending avoiding PCI gear for sound quality reasons. That's probably right only about 80% of the time (there's strong correlation), and only if you're comparing them to *good* USB or FireWire gear. There are plenty of crappy sounding USB interfaces out there, but we don't talk about them much because most of them cost $20 or less and are built into a microphone. Just another example of the low end shifting.
Just to drive the point home, if the component quality were similar, the Delta 1010LT would not sell for about $150 while the FIREPOD sells for about $450. It's a decent starter interface, so long as you keep in mind that your recordings probably have a lot more clarity in the top end than they sound like when you play them back through the D/A conversion in that hardware.