First, I have great respect for Alchuck's views. I always read his posts with the notion of perhaps learning something. However...
I have a M-Audio Dman 2044 and a Live! Value. The Dman blows the Live! out of the water for digital audio. They are not in the same league. Period.
The Live! is a wonderful card for soundfonts, and I love it for that. And, yes, it will do an ok job on digital audio if it's all you have. It's not horrible. But for $150-$200 you can get
an Echo Mia. Hell, Slackmaster found a Delta 44 for $199!
If you absolutely gotta have a soundcard right now, buy the Live! Value for $50 and save your money for a good digital audio card that can be had for less than $200. I will not suggest someone should fork out $90+ dollars on a poor (in comparison) digital audio card (the Live! Platinum) when much better cards (Echo, M-audio, and others) can be had for not a lot more money--unless it is someone who it would take another 2 years to save up the additional $60.
I do agree with Alchuck that the Live Drive is a waste of $100, and you'd be better off buying a small mixer with that cash.
Or a better card!