Sincerely, i use to play with stereo headphones nowadays, so for me even a cheapo dvd player chip would be enough.
I think you're missing most of what an sound card/audio processor actually does. It isn't just about how many channels can be output in the final master, it's how many sounds can be included in the final master and how many different effects and filters can be applied without using too much CPU performance. There seems to be a lot of audio processing done in software for games like Battlefield 3. They have a sort of fake high-dynamic range audio, with all kinds of processing to roll off sound over distance, alter sound based on positioning and add effects like muffling sound after you've been near an explosing. It would be interesting to know how much a dedicated hardware solution would benefit a game like that, and how many more sounds they could support, and if there are any new effects they could add. Just reading yesterday, there are all kinds of effects they could have just based on positioning. This audio block is supposed to support XAudio2 API. It's just a question of whether custom DSP effects are done on the audio block or on the CPU. Still, there is a lot of work that's been offloaded onto the audio block from the CPU, and for a much larger number of sounds concurrently.
Eg. You could have one game that masters to 7.1, but can only put 64 sounds (voices) into the final master, with little to no audio processing besides some volume adjustment. You could have another game that masters to stereo sound but can put 128 sounds into the final master with each sound processed for volume adjustments, environmental effects and filtering.