Integrated sound ftw, at least until something really cool comes along.
+1 -- I've got the Via Envy24 built into my motherboard, how cool is that? Even with a pair of 24-bit 96khz DACs behind the analog ports, along with optical in/out and coaxial in/out. There's no replacement for this kind of onboard audio; I already dread having to buy a new systemboard next year for my bi-annual whole-system update.
But hell, even the onboard audio on my little Dell Inspiron is very good. Any more, so long as the motherboard designer provides enough filtering to keep system noise out, onboard audio is "good enough" for probably 95% of us out there.